Poor Economic Data Rattles Faith in Abenomics

As poor economic data rattles faith in Abenomics following the April consumption tax hike, one analyst told CNBC that uncertainty over the outlook for Japan’s economy will linger for some time.

“With the consumption tax, we’re not done with this… as the government is poised to take it from 8 to 10 percent next October,” Paul Sheard, chief global economist at Standard & Poor’s Ratings Services told CNBC Asia’s “Squawk Box.”

“So if they go ahead with that we’re still going to be – for the next year to year and a half – in this no man’s land of not knowing whether what [Bank of Japan Governor Haruhiko] Kuroda is doing is successful,” he added.


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