TOKYO : Japan's consumer spending kept shrinking for a 13th straight month in March, government data showed on Friday, creating challenges for policymakers seeking to engineer self-sustaining economic growth and normalise monetary policy.Household spending fell 1.
FILE PHOTO: Shoppers make their way at a shopping district in Tokyo, Japan March 19, 2024. REUTERS/Kim Kyung-Hoon/File Photo
Household spending fell 1.2 per cent in March from a year earlier, the data showed, against economists' median forecast for a 2.4 per cent drop and following a 0.5 per cent decline in February. Separate data from Thursday showed Japanese real wages in March shrank for two straight years, as the rising cost of living outpaced nominal wages.
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