Japan household spendng down as consumers skip big-ticket items
Household spending in Japan fell slightly in April as consumers refrained from buying big-ticket items like home appliances.
An internal affairs ministry survey shows households of two or more people spent an average of about 325,717 yen, or over 2,200 dollars. That was down 0.1 percent from a year earlier in yen terms when adjusted for inflation. It was the first drop in two months.
Spending on furniture and household goods declined 0.4 percent. Appliances such as air conditioners, washing machines and microwaves saw lower demand as consumers stayed budget conscious.
Purchases of clothes and footwear dropped 2.1 percent. Unseasonably cold weather was said to dampen sales.
Food expenditures rose 0.3 percent. That was the first increase in eight months. People bought more fresh vegetables including lettuce and tomatoes as their prices began to fall. Rice purchases also rose despite surging prices.
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