Economic Buzz: Japan household spending falls 3.6% YoY in July

Japan?s household spending fell 3.6% YoY in July, marking an eighth consecutive monthly decline and sharply undershooting expectations for a 1.6% drop. Weakness broadened across food, utilities, transport, healthcare, education and housing, highlighting persistent fragility in consumer demand. On a seasonally adjusted monthly basis, spending rose 0.5%, rebounding from June?s 6.4% contraction.

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