Japanese household spending fell at a much faster pace than expected in December...
TOKYO - Japanese household spending fell at a much faster pace than expected in December, sliding for the third straight month in a sign consumers are having a hard time coping with a sales tax hike.
Household spending slipped 4.8% in December from a year earlier, government data showed on Friday, coming in well below a median forecast for a 1.7% decline. Stronger consumer spending is also needed to help achieve the Bank of Japan’s elusive 2% price target.
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