Japan Household Spending Climbs 4.7% On Year In May

(RTTNews) - The average of household spending in Japan was up 4.7 percent on year in May, the Ministry of Economy, Trade and Industry said on Friday - coming in at 316,085 yen.

That beat forecasts for an increase of 1.3 percent following the 0.1 percent contraction in April.

On a monthly basis, household spending rose a seasonally adjusted 4.6 percent - again exceeding expectations for a gain of 0.4 percent following the 1.8 percent decline in the previous month.

The average of monthly income per household stood at 522,318 yen, up 0.4 percent from the previous year.