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Japanese Seek Bargains as Economy Limps, Abenomics Loses Shine

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Three years of so-called “Abenomics”, Japanese Prime Minister Shinzo Abe’s bold stimulus programme, has failed to dislodge a deflationary mindset among businesses and consumers.

As the world’s third-largest economy falters again – with a stronger yen gnawing at overseas profits and domestic consumption sapping companies’ confidence to invest or sufficiently raise wages – firms that increased their prices in the hope of a sustained recovery are rethinking their strategy.

Many consumers, with little extra to go around, are opting for cheaper products – welcome news for the discount retailers who flourished during two decades of economic stagnation.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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