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Japan Household Spending Down Record 16.2 Pct in May

Japan Household Spending Down Record 16.2 Pct in May

   Tokyo, July 7 (Jiji Press)--Japanese household spending in May dived 16.2 pct from a year earlier in price-adjusted real terms, posting the biggest drop since comparable data became available in January 2001, amid the coronavirus crisis, the government said Tuesday.
   Consumption expenditures per household with at least two members came to 252,017 yen, down for the eighth straight month, the internal affairs ministry said. Household spending marked the record drop for the second consecutive month, after an 11.1-pct fall in April.
   The year-on-year spending plunge reflected the Japanese government's state of emergency declaration over COVID-19 which stayed in place in some regions until full lifting on May 25 and a surge in travel and leisure demand in May last year that stemmed from the 10-day holiday period for the Imperial succession in the month.
   Expenditures on accommodations, package tours and amusement park charges all dropped over 90 pct.
   Reflecting shortened business hours at restaurants, spending on drinking tumbled 88.4 pct while that on meal charges fell 55.8 pct.

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AFP-JIJI PRESS NEWS JOURNAL


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