The Ministry of Internal Affairs and Communications reported on Friday that Japan's average household spending decreased by 1.3 percent year-on-year in October, amounting to 305,819 yen. This decrease was less severe than anticipated, as forecasts had predicted a 2.6 percent annual decline. In September, the decrease was 1.1 percent.
On a month-to-month basis, household spending rose by 2.9 percent, surpassing expectations of a 0.4 percent increase, following a 1.3 percent decrease in the previous month. Additionally, the average monthly income per household was recorded at 580,675 yen, marking a 1.1 percent increase compared to the previous year.
