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Japanese households increased spending in August compared with a year earlier as the economy continued to recover from COVID-19 restrictions, but rising prices are clouding the outlook for further gains.
Separate data on Friday showed real wages falling for a fifth month, underscoring growing pressure on Japanese consumer spending, which accounts for more than half of the country’s gross domestic product (GDP).
Household spending rose 5.1 percent in August from a year earlier, government data showed on Friday. The reading was lower than economists’ median estimate for a 6.
