37% of households pushed forward goods purchases ahead of October sales tax hike


BOJ releases some survey details involving the recent October sales tax hike


Meanwhile, nearly 70% of households surveyed said that they plan to withhold spending after the sales tax hike earlier this month. That’s a bit of a bummer to the Japanese economy if household consumption/spending starts slowing down further.

If you need a reminder, Japan previously raised the sales tax in April 2014 and suffered a blow to its economy as it slipped into a technical recession in the coming quarters.

The government had previously said they were more prepared to deal with such a situation this time around but the survey results above is hardly convincing that the mood on the ground has shifted drastically in preparation of the decision earlier this month.

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