Economics
Japan’s Household Spending Falls Amid Fears of Economic Setback
- Spending drops 1.2% in January as omicron curbs hit consumers
- Ukraine war adding to speculation of more stimulus measures
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Japan’s households pared back their spending in January during the rapid spread of the omicron variant and renewed restrictions on activity, adding to the risk that the economy will shrink this quarter.
Outlays fell 1.2% from December for the sixth drop in the last nine months, as consumers cut spending on entertainment, clothing and extra schooling, the ministry of internal affairs reported Friday.