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Drop in Japan's July household spending less than expected; jobless rate at 21-year low

Wednesday, August 31, 2016 - 05:50
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Retail sales slid 0.2 per cent in July, less than a median forecast of 0.9 per cent. Economists say households have been keeping their purse strings tight since the sales-tax increase in 2014.

Tokyo

JAPANESE household spending fell less than expected in July and the jobless rate hit a two-decade low, offering some hope for policymakers battling to pull the world's third-largest economy out of stagnation.

But with the economy barely growing and inflation sliding further