Japan's Nov household spending extends declines in sign of weak sentiment

Japan's household spending posted an annual drop for the fourth straight month in November, a weaker-than-expected reading that threw into doubt hopes that a consumer demand recovery will give a major boost to the economy in the final quarter of 2021.
 

Household spending fell 1.3% in November from a year earlier, government data showed, much weaker than the market forecast of a 1.6% gain in a Reuters poll.
 

The month-on-month figures were also negative, losing 1.2%, weaker than a forecast of a 1.2% gain as households remained hesitant to increase spending despite lower COVID-19 infections than during the summer months.