Japan June household spending falls unexpectedly

TOKYO, Aug 7 : Japanese household spending dropped unexpectedly in June from a year earlier, government data showed on Friday, for a seventh straight month of decline. • Consumer spending fell 3.3 per cent year-on-year, data from the internal affairs ministry showed, exceeding the median market forecast for a rise of 1 per cent.• On a seasonally adjusted, month-on-month basis, spending decreased 6.4 per cent versus an estimated drop of 3.1 per cent.• The indicator will be among factors the Bank of Japan will scrutinise as it decides whether to raise interest rates as early as September.• Japan's real wages grew 1.6 per cent in June from a year before, a ​sixth consecutive month of increases, labour ministry data showed this week.