Japanese annual household spending drops for 9 straight months

By Satoshi ‌Sugiyama

TOKYO, Oct ​9 (Reuters) - ​Japanese household spending fell less than expected ‌in August from a year ⁠earlier, government data showed on ‌Friday, for a ‌ninth straight month of decline.

• Consumer spending fell 3.1% ​year-on-year, data from the internal affairs ministry showed, less ⁠than the median market forecast for ​a 3.6% drop.

• On a seasonally adjusted month-on-month basis, ​spending inched up ‌0.1% versus an estimated 0.5% uptick.

• The indicator ⁠will be among factors the Bank of Japan will ⁠scrutinise as it decides whether to ​raise interest rates in coming months.

• Japan's real wages marked the eighth ‌consecutive month of gains in August, data from ‌Wednesday showed, pointing to ⁠a continued ‌recovery in ​wage growth.

(Reporting by Satoshi Sugiyama; Editing by Jacqueline ‌Wong)

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