Japan household spending drops fastest in 8 years

Japanese household spending in 2014 declined at its fastest pace in eight years, official data showed Tuesday, underscoring the impact of the country's first sales tax hike in nearly two decades. The figures come a day after the government said Japan's economy limped out of recession in the last quarter of 2014, with a weaker-than-expected 0.6 percent expansion between October and December. Last year, the average household spent 251,481 yen ($2,115) each month, down 3.2 percent from th