Japan's Oct. household spending up 1.2% on recovering tourism

Japan's household spending in October increased a real 1.2 percent from a year earlier, rising for the fifth consecutive month, as people spent more on trips after the government lifted coronavirus restrictions and introduced a subsidy program to revive domestic tourism, government data showed Tuesday.Average spending by households of two or more people stood at 298,006 yen ($2,100), the Ministry of Internal Affairs and Communications said. On a seasonally adjusted basis, spending rose a real 1.1 percent.But real wages in October fell 2.6 percent from a year earlier, declining for the seven…READ FULL ARTICLE