Retailers have been cautious about offering aggressive discounts before the consumption tax is lifted to 10 per cent from 8 per cent on October 1. Photo: AFP
Retailers have been cautious about offering aggressive discounts before the consumption tax is lifted to 10 per cent from 8 per cent on October 1. Photo: AFP
Shinzo Abe

Japan consumers cautious on spending despite expected limited drag from sales tax increase

  • Nation set to increase its sales tax from 8 per cent to 10 per cent on October 1
  • The impact of the tax increase on consumer spending is important because private consumption accounts for 60 per cent of Japan’s gross domestic product

Retailers have been cautious about offering aggressive discounts before the consumption tax is lifted to 10 per cent from 8 per cent on October 1. Photo: AFP
Retailers have been cautious about offering aggressive discounts before the consumption tax is lifted to 10 per cent from 8 per cent on October 1. Photo: AFP
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