Japan's January household spending down 6.3% as output halt hits autos

Japan's household spending in January fell 6.3 percent from a year earlier, the biggest margin of decline in nearly three years, after shipment halts at Toyota Motor Corp.'s small-car unit led to a shortage of stock, government data showed Friday.Households of two or more people spent an average of 289,467 yen ($1,960), logging a decline for the 11th consecutive month, as price hikes continued to dampen spending on food, while outlays on utilities plunged due to unseasonably warm weather.The fall in the reported month was the biggest since a 6.5 percent decline registered in February 2021. …READ FULL ARTICLE