TOKYO (Reuters) – Japanese household spending fell 0.5% in February from a year earlier, down for a 12th straight month but better than the median market forecast for a 3.0% decline, government data showed on Friday.
When adjusted for the leap year effect of having one more calendar day on Feb. 29 compared to regular years, household spending fell 2.7% in February year-on-year, according to the government’s estimate of the data.
On a seasonally adjusted, month-on-month basis, spending increased 1.4%, also better than an estimated 0.5% gain.
(Reporting by Kantaro Komiya; Editing by Himani Sarkar)
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