Japan's household spending posted an annual drop for the fifth straight month in December, with consumer demand struggling to recover before a resurgence in coronavirus infections due to the omicron variant.
The extended spending decline casts a cloud over the broader recovery prospects of the world's third-largest economy, which has yet to return to pre-pandemic levels largely due to weakness in consumer demand.
Real wages posted their biggest monthly fall in 19 months in December, separate data showed, as global inflationary pressures and a rise in part-time workers hurt households' purchasing power.
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