Japan household spending surges as Abenomics gains momentum

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Household spending soared 5.2 percent in March from a year earlier in price-adjusted real terms, Ministry of Internal Affairs and Communications showed on Tuesday, as some individual investors cashed in on gains in stocks to increase spending on cars and home repairs.

That blew past the median estimate for a 1.8 percent annual increase and was the fastest gain since a 5.3 percent rise in the year to February 2004.

Such a big increase in spending is unlikely to be sustainable, and there are worries that wages have been slow to improve.