Arab Today, arab today japan spending gets leap year boost but broader outlook dim
Last Updated : GMT 12:34:44
Arab Today, arab today
Arab Today, arab today

Japan spending gets Leap Year boost, but broader outlook dim

Arab Today, arab today

Arab Today, arab today Japan spending gets Leap Year boost, but broader outlook dim

Japanese household spending rose 1.2% in February from the same month last year
Tokyo - AFP

Spending by Japanese families increased in February for the first time in six months, government data showed Tuesday, but analysts said the rare good news for Prime Minister Shinzo Abe is likely to be short-lived.

Abe came to power in December 2012 vowing to rejuvenate the world's third-largest economy by ending deflation -- a debilitating decline in consumer prices that has suppressed spending for years.

But the prime minister's eponymous "Abenomics" policies, which include the Bank of Japan buying massive amounts of government bonds and introducing a negative interest rate, have so far failed to achieve his goals.

Japanese household spending rose 1.2 percent in February from the same month last year, the Internal Affairs and Communications Ministry data showed, the first gain since August.

The result surprised economists who had foreseen a 1.9 percent decline, according to a Bloomberg market forecast
Economists, however, likely overlooked the positive effect of the extra day in February due to Leap Year, said Taro Saito, senior economist at NLI Research Institute.

"The economy overall is levelling out," he told AFP.

The government last week said that Japanese consumer inflation remained stuck at zero in February for the second straight month as falling energy prices and a higher yen driving down the cost of other imports continued to weigh on consumer prices.

Also weighing on the economy are government plans to again raise the consumption tax from the current eight percent to 10 percent next year.

Powerful government finance mandarins say Japan needs the extra revenue to tackle the mounting national debts as the country ages and its population declines.

Going ahead with the plan is seen as likely to send the economy further into the doldrums, as did the last increase in April 2014.

Now, influential voices including Nobel Prize-winning economists Joseph Stiglitz and Paul Krugman, who both visited Japan this month, have urged Abe to postpone the increase.

Separate economic data released on Tuesday showed Japan's jobless rate came in at 3.3 percent in February, slightly worse from 3.2 percent in the previous month.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan spending gets leap year boost but broader outlook dim Arab Today, arab today japan spending gets leap year boost but broader outlook dim

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan spending gets leap year boost but broader outlook dim Arab Today, arab today japan spending gets leap year boost but broader outlook dim

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday