Despite all the hype about “Abenomics” already encouraging a surge in consumer spending, the hard data on retail sales remain subdued. This makes sense given the persistent weakness of employment and wages, which are far more important drivers of spending than the (equally over-hyped) positive wealth effects from higher equity prices or the boost that might follow the end of deflation.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.