Heh, I got a kick out of this. Great news!!! Consumer spending is up in Japan!!! This is how Reuters framed this…..
TOKYO (Reuters) – Japan’s household spending surged in March at the fastest pace in nine years in a sign that Prime Minister Shinzo Abe’s bold efforts to end two decades of stagnation are lifting consumer confidence and setting the stage for an economic revival.
A recent run of data has provided encouraging early hope that Abe’s push for aggressive fiscal and monetary policies to get the world’s third-largest economy motoring is having the desired effect.
Now, increased consumer spending is, indeed, usually a good sign. However, like nearly all things in economics, it’s a double edged sword. Consumer confidence is a good thing, but, you want some reality to accompany the increased confidence.
While Japan’s industrial production rose less than expected in March due to tepid demand overseas…
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