TOKYO: The Bank of Japan’s (BoJ) new index showed that private consumption rose 0.8% in April from the previous month, underscoring its view that household spending is holding up on expectations of a slow but steady increase in wages.
The central bank began releasing the new index to get a more comprehensive view of private consumption, which makes up 60% of Japan’s gross domestic product (GDP) and holds the key to its policy decisions.
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