Japanese Survey Says 54% Not Happy with Abenomics

Fifty-four percent of the public do not appreciate the “Abenomics” economic policy mix promoted by the government of Prime Minister Shinzo Abe, topping the 33 percent who appreciate the measure, a recent Mainichi Shimbun poll indicates.

The nationwide poll, conducted on April 16 and 17, also asked respondents about a planned consumption tax hike from the current 8 percent to 10 percent, slated for April next year. Altogether, 59 percent of respondents were opposed to the move while 31 percent supported it.

The support rate for the Abe Cabinet climbed to 44 percent, up 2 percentage points from the previous survey in March, while the disapproval rate remained at 38 percent.

In a previous poll conducted in March 2014, 54 percent of pollees said they had “expectations” for Prime Minister Abe’s economic measures, outnumbering those who didn’t, at 42 percent. Though the survey question was different from the one in the latest survey, the results of the two polls show there is a growing sense of disappointment among the public toward Abenomics.

Among supporters of the Abe Cabinet, 62 percent of respondents appreciated Abenomics, while 24 percent didn’t. In contrast, 85 percent of non-supporters of the Abe Cabinet didn’t appreciate the economic policy.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza