Coronavirus: Japan's household spending slumps at record rate - BBC News

Japan's household spending has slumped at a record pace as measures to slow the spread of the coronavirus kept people at home.

Government figures show household spending dropped by 16.2% in May from a year earlier.

The worse than expected fall was the fastest rate of decline since comparable data began in 2001.

The data showed big drops in spending on hotels, transport and eating out.

The outlook for household spending in the months ahead also remains weak as job losses are expected to rise.

Real wages, a gauge of household spending power, fell by 2.1% in May from a year earlier, the steepest pace of decline since June 2015