Pedestrians walk past a department store in Tokyo on Wednesday. Reuters
Japan’s economy contracted slightly in the first quarter as corporate and consumer spending weakened, a Reuters poll showed on Friday. Exports also deteriorated amid trade disputes and weaker global demand, hurting the trade-reliant economy. Gross domestic product (GDP) is expected to have fallen 0.2% in January-March on an annualised basis,
Japan households’ mood hits five-year low level as tax hike bites in the fourth quarter of the last year. Consumers curbed spending on dining out, clothing and daily necessities after the tax increase,
Japan’s economy grew much faster than expected in April-June to mark the third straight quarter of expansion, as robust household consumption and business investment offset the hit to exports from cooling global demand.
Japan’s annual core consumer inflation ticked up only marginally in October despite the boost from a sales tax hike during the month, suggesting weak household sentiment is keeping companies from passing on the higher costs.
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