July’s all industry activity index suggests that Japan’s economic recovery picked up again in the third quarter after wobbling in the second quarter. In particular, the expenditure breakdown (which is usually over-looked) shows that consumer spending rose strongly for the second month running. Manufacturing investment fell further, but this was broadly offset by higher investment elsewhere, notably in the services sector.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.