Japan's households boost spending by most since summer of 2022
Outlays by households, adjusted for inflation, gained 4.7% from a year ago in May as spending on cars jumped, the internal affairs ministry reported Friday. The result beat the median economist estimate of a 1.2% gain.
The jump in cars this year helped inflate the overall number but was largely due to comparison with low volumes last year resulting from a safety certification scandal, according to an internal affairs ministry official. Still, spending also grew for tourism both within and outside Japan while people also increased outlays on eating out.
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