On Breakingviews – Japan’s economic immune system looks vulnerable to the coronavirus, says petesweeneypro:
Bank of Japan Governor Haruhiko Kuroda speaks at a news conference in Tokyo, Japan, January 21, 2020. REUTERS/Kim Kyung-Hoon
The weak initial readings were hit by Typhoon Hagibis and a poorly timed consumer duty hike in October. Although the preliminary numbers are often revised sharply, other indicators are equally concerning. Consumption fell nearly 3% on a quarter-by-quarter basis. Even worse, Japan Inc cut capital expenditures by 3.7%. The upcoming hit to shopping and business sentiment could be even more severe as an epidemic radiates out of central China.
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