Japan household spending up 11.6% on year in May

Japan's household spending rose a real 11.6 percent in May from a year earlier for the third straight month of increase, the government said Tuesday. Average spending by households with two or more people was 281,063 yen ($2,500), the Ministry of Internal Affairs and Communications said. Household spending is a key indicator of private consumption, which accounts for more than half of Japan's gross domestic product.