Japanese household spending dropped in June from a year earlier, marking the seventh straight month of decline.
Data from Japan's internal affairs ministry shows consumer spending fell 3.3 percent year-on-year in June. This decline exceeded the median market forecast, which had predicted a 1 percent rise.
Japanese consumer spending in June
On a seasonally adjusted, month-on-month basis, Japanese household spending decreased 6.4 percent in June, compared to an estimated drop of 3.1 percent.
Data from Japan's labour ministry indicated that real wages grew 1.6 percent in June from a year before, marking the sixth consecutive month of increases.
The Bank of Japan will reportedly scrutinize the household spending indicator as it decides whether to raise interest rates as early as September.
