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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

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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