The economy is providing a favourable backdrop to Prime Minister Abe’s efforts to be re-elected on 22nd October. Firms are the most upbeat in a generation following a jump in their profits. Job growth remains strong and the unemployment rate is at a two-decade low. Admittedly, real wages have started to fall again. But households are taking it in their stride: consumer confidence remains much higher than when Mr Abe returned to power in late-2012.
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