7 June 2005, 09:46  Japanese household spending in April fell 3.0 % yr/yr

Japanese household spending in April fell 3.0 pct from a year earlier, only the second decline in eight months, the Ministry of Internal Affairs and Communications said. But consumer spending rose a seasonally adjusted 1.0 pct from the previous month, the sixth increase in eight months. Household spending averaged 319,274 yen in April. The results were expected after the ministry reported last week that spending by wage earner-headed households, which accounts for about 60 pct of overall household spending, fell 3.1 pct in real terms in April from a year earlier. The ministry attributed that decline to an exceptional 7.2 pct rise in salaried household spending in April 2004, the biggest jump in more than 21 years, due to large increase in overseas travel, easing concern over the SARS outbreak and an early start to the Golden Week holidays last year.

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