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PR Newswire
29-08-2014, 09:33 AM
The Abenomics remains challenging...
Japan household spending slumps, output flat as tax pain persists
TOKYO - Japanese household spending fell more than expected and factory output remained anemic in July after plunging in June, government data showed on Friday, suggesting that soft exports and a sales tax hike in April may drag on the economy longer than expected.
While the Bank of Japan is in no mood to expand monetary stimulus any time soon, the data will keep it under pressure to act if the economy fails to gather momentum after contracting in the April-June quarter, analysts say.
Separate data showed core consumer inflation, which excludes volatile prices of fresh foods but includes oil products, hit 3.3 percent in the year to July, matching a median market forecast.
When excluding the effect of the April tax hike, it stood at 1.3 percent, still distant from the 2 percent inflation target the Bank of Japan pledged to meet sometime next year.
...
http://www.todayonline.com/business/japa...n-persists
Japan household spending slumps, output flat as tax pain persists
TOKYO - Japanese household spending fell more than expected and factory output remained anemic in July after plunging in June, government data showed on Friday, suggesting that soft exports and a sales tax hike in April may drag on the economy longer than expected.
While the Bank of Japan is in no mood to expand monetary stimulus any time soon, the data will keep it under pressure to act if the economy fails to gather momentum after contracting in the April-June quarter, analysts say.
Separate data showed core consumer inflation, which excludes volatile prices of fresh foods but includes oil products, hit 3.3 percent in the year to July, matching a median market forecast.
When excluding the effect of the April tax hike, it stood at 1.3 percent, still distant from the 2 percent inflation target the Bank of Japan pledged to meet sometime next year.
...
http://www.todayonline.com/business/japa...n-persists
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