TOKYO - Japan's consumer spending fell in February but at a slower-than-expected pace as households scrambled for protective masks, toilet paper and staple food amid the worsening coronavirus pandemic.
Household spending fell 0.3 per cent in February from a year earlier, marking the fifth straight month of declines but a smaller drop than a median market forecast for a 3.9 per cent decline. Spending on toilet paper jumped 47 per cent in February from a year earlier, while that on domestic package tours slumped 37 per cent, the data showed.
Separate data showed inflated-adjusted real wages rose for a second straight month in February, providing some relief for an economy under threat of a deep downturn over the pandemic.
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