Japan’s Feb. household spending falls 0.5% on year

TOKYO (Kyodo) — Japan’s household spending in February fell 0.5 percent from a year earlier, declining for the 12th consecutive month, government data showed Friday.

Households of two or more people spent an average of 279,868 yen ($1,850), the Ministry of Internal Affairs and Communications said.

The data is a key indicator of private consumption, which accounts for more than half of the country’s gross domestic product.