Japan household spending unexpectedly accelerates in November

Japan's household spending accelerated in November compared with a year earlier, official data showed Friday.

According to the Statistics Bureau of Japan, average monthly consumption expenditures per two-or-more-person households rose 2.9% on-year in real terms in November from a 3.0% decline in October.

The latest reading came above the FXStreet-cited consensus forecast of a 0.9% fall.

Spending on food, which accounted for the largest proportion of spending, rose 0.9%. Meanwhile, housing fell 1.8% as fuel, light, and water charges dropped 1.2%.

Clothing and footwear spending increased 7.5%, along with medical care which rose 2.6%.

Education spending also grew 10%, while transportation and communication increased 20%. Culture and recreation rose 2.2%, as furniture and household utensils edged up 11%.