Japan's household spending likely fell at a slower annual rate in November ...
TOKYO - Japan’s household spending likely fell at a slower annual rate in November as consumers were probably slowly getting over a hike in the sales tax in October, though its effect would still keep a lid on spending, a Reuters poll showed on Wednesday.
After the increase in tax, household spending fell 5.1% in October, its fastest pace of decline since March 2016. But the poll of 12 economists predicted November would show a fall of 1.7% from a year earlier. From the previous month, household spending was seen rising 3.4% in November, rebounding from a 11.5% decline in October.
“The pace of recovery in household spending after it tumbled in October due to the sales tax hike likely be slow,” said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute.The government will publish household spending data at 8:30 a.m. on Jan. 10 .
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