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© 2019 AFPJapan's economy grows faster than expected on new imperial era holidays
By Miwa Suzuki TOKYO©2024 GPlusMedia Inc.
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© 2019 AFP
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Ganbare Japan!
Excellent news! Things are ticking along nicely, confidence up and people are spending. Tokyo 2020 will provide yet another major boost, with many millions of tourists spending yet more money!
since1981
Ganbare Japan!; Hold your thoughts until after the tax increase. Also, how much is due to Japanese spending and how much to tourist spending. How much longer can hard working Japanese continue to have a fair amount of disposable income? And, when the tax goes up to 10%, who will be paying the tax on duty free products and services?
AlexBecu
Since1981
Tax increase is small and overdue. Look at other countries in comparison. Japanese wages are going up too.
commanteer
I think Ganbare J believes Abe more than Abe believes himself. A true fan.
SaikoPhysco
And YoY next year, it will be down.
AlexBecu
Ganbare
Has a right to be positive about Japan and it's future. His comment is not offensive or negative.
You people are always bothered by anyone who has something positive to say about Japan.
commanteer
Funny. I am more often accused of being an apologist in this forum. But anybody who cares about Japan also cares about the problems it is facing. Ganbare is 100% hurray for Abe and hurray for the official government position, like a one-man PR campaign.
Cheering a good quarter following a special event is like cheering a new coat of paint on a house that is being devoured by termites. There are serious structural problems facing Japan in the future, and the head in the sand approach is not helpful to the country, but damaging.
Kazumichi
What's the surprise?
More holidays, more outgo.
Stop making the economy look good with illusions.
We are POOR!
Impose tax on Pachinko and religious groups, withdraw the stupid consumption tax system and stop unnecessary construction!
rainyday
As the article clearly states, the statistical bump is mainly attributable to people spending more during the 10 day holiday in honor of the new Emperor.
So unless Japan is going to get a new Emperor every 3 months its unlikely this is going to be anything more than a temporary bounce completely unrelated to longer term trends in the economy.
AgentX
Nothing like a bit of propaganda to see the in the new Emperor.
Meanwhile, the people continue to suffer in the real Japan...
Do the hustle
A growth of 0.4% only two months before the ne t sales tax hike is nothing to crow about. People used that extended holiday period as their last chance to get away before the tax increase. The figures for October, November and December will be very different. I expect to see a decline of at least 2% possibly more.
Tawkeeo
JT commenters are as negative as ever. If you even dare to say something positive, ANYTHING positive, about Japan, you get frowned upon, considered one sided, a blinded fan of [insert current prime minister], etc etc.
Not everyone is as pessimistic as y'all.
rainyday
The irony level is off the charts here. You seem very pessimistic about pessimism.
Cricky
So the less then 1% growth was due to the unprecedented 10 day holiday, monstrous TV sales and travel, being an unprecedented 10 day holiday. And that bumped the economy 0.4%. So it had absolutely nothing to do with government policies, just people having unprecedented time off. Might be a message there.
Wallace Fred
Delusion.
kohakuebisu
I take it the consumption boost from people having time off in a block is not going to encourage them toward getting people to have 10 days off every year.
It's just "that was good for the economy", and "as you were".
Andrew Crisp
Some thing isn't right, this article is dated Aug 9 and yet the Nikkei Business Review has the following article from August 10.
Japan retailers feel chill with big-spending Chinese gone
Drugstores, cosmetics shops and department stores see sales fall
https://asia.nikkei.com/Business/Business-trends/Japan-retailers-feel-chill-with-big-spending-Chinese-gone
kurisupisu
Not me or anyone that I know....
mmwkdw
@kurisupisu - we dont advertise the fact that we're doing so... but trust me... we are going out and buying those things that we know we need to buy, that would be more expensive to buy after October. Air Conditioners being one item - My 20 year old one packed out, ages ago, so I'm buying one now...likewise replacing another than may give up soon. This additional 2% increase is seriously going to dent the economy after October. And if you dont think so, then ... you're not living in the real world.
The currently Strong Yen helps the locals, purchase cheaper imported items - clothing / food/ air-conditioners from overseas... but it does not help the Tourists.
The Chinese Tourist market is going to dry up pretty quickly soon, as internal issues there put paid that that. And the relations between Japan and S. Korea are rapidly putting and end to that source of income... so things are going to get bad here in Japan.
So a Strong Yen will be the only thing to keep Japan afloat... but how to do so ? Raising interest rates will be a disaster for the populace who already have to borrow heavily to purchase homes. Currency manipulation .. would result in wrath from the US... so things don't look so good here.
I'd think it'd be cheaper for Japan to resolve its regional disputes and move ahead.