TOKYO, May 12 (Reuters) – Japanese household spending fell more than expected in March from a year earlier, government data showed on Tuesday, extending declines to a fourth straight month.
• Consumer spending fell 2.9% year-on-year, internal affairs ministry data showed, compared with the median market forecast for a 1.3% drop.
• On a seasonally adjusted, month-on-month basis, spending dropped 1.3% versus an estimated 0.6% rise.
• The indicator will be among factors the Bank of Japan will scrutinise as it decides whether to raise interest rates in June or hold off until later.
• Japan’s real wages rose 1% in March from a year earlier for a third straight month of gains.
(Reporting by Satoshi SugiyamaEditing by Chang-Ran Kim)
