Japan's household spending rose for a ninth straight month in August, offer...
TOKYO - Japan’s household spending rose for a ninth straight month in August, offering some relief for the export-dependent economy amid weak global demand and a protracted U.S.-China trade war.
The mixed readings will keep policymakers under pressure to announce more fiscal and monetary stimulus measures to shield the economy from a recession, analysts say. “Consumption appeared to have been fairly strong in August after weak spending in July, when bad weather kept consumers at home,” said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute.
While the government has taken steps to ease the burden on consumers by offering vouchers and tax breaks, there are fears the higher tax could hurt an economy already feeling the pinch from global pressures. Upcoming data could be hard to read as households may have made purchases ahead of the sales tax increase, which will inflate consumption data up till September and may lead to a downturn in spending from October onward, analysts say.
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