The country's household spending for May unexpectedly dipped 1.8% in real terms compared to the same period last year.continued its record-breaking run, climbing 0.46% in early trade. The broad-based Topix also extended its gains and advanced 0.06% to a fresh record high.unexpectedly dipped 1.8% in real terms compared to the same period last year. Economists polled by Reuters had estimated a 0.1% rise.
Household spending data is a key metric for the Bank of Japan's to assess its goal of realizing a"virtuous cycle" of rising wages and prices. Average spending per household in May was 290,328 yen , while average monthly income stood at 500,231 yen, up 6.4% in nominal terms and 3% higher in real terms from the previous year.
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