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

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
Topic |   Shinzo Abe

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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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