Japan's household spending rose at the fastest pace on record in September ...
TOKYO - Japan’s household spending rose at the fastest pace on record in September as consumers rushed to buy goods before a sales tax hike, though the test for the economy will be whether the higher levy will squeeze domestic demand in coming months.
From the previous month, it grew 5.5% in September, which compared with the median estimate for a 3.8% increase. “Consumer sentiment has stayed weak despite the government steps to mitigate the pain from the tax hike. Although deterioration in exports seems to be easing, we need to be cautious about their outlook, so there are risks to the economy.”
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