Japan’s households boost outlays first time in 14 months

Japanese household spending in April showed the first year-on-year increase since February last year, marking rises in such categories as education, rent and clothing. - Bloomberg

TOKYO: Japan’s households boosted spending for the first time in 14 months in a sign that private consumption may finally stop exerting a drag on growth as central bank officials prepare to discuss policy next week.

Real outlays rose 0.5% in April from a year ago, marking the first increase since February last year, the ministry of internal affairs reported Friday (June 7). The reading matched economists’ estimates. Spending fell 1.2% from a month earlier.