Retail sales are jumping in Japan over consumer spending | Business and Economic Affairs
The prospect of recovery in the wake of drinking, however, has its uncertainty surrounding Omicron’s diversity.
Sales in Japan rose sharply than expected in November, due to a decrease in COVID-19 cases per month, which has encouraged consumers to increase their purchasing power over goods and services.
In an effort to boost the economy, the government agreed on Friday $ 940bn funding for 2022, including payments to families and businesses affected by the epidemic.
The prospect of recovery from alcoholism, however, is fraught with uncertainty over the new species of Omicron coronavirus, which began to spread locally last week in major Japanese cities.
“So far, consumers have not been significantly affected by Omicron because the number of vehicles on foot is still showing,” said Masato Koike, an economist at Dai-ichi Life Research Institute.
The government said last Thursday it was not considering changing the domestic restrictions of COVID-19 because of the new changes.
“But if a new disease breaks out … there is a risk, or maybe in the meantime, drinking can be reduced by Omicron,” said Koike, adding that holidaymakers can spread the disease.
Retail sales gained 1.9 percent in November since last year, which the government showed on Monday, faster than economists predicted to gain 1.7% and 0.9% in October.
Oil sales rose 29.2 percent in November from the previous year, due to rising commodity prices, boosting the overall market. Car sales fell by 14.1 percent due to domestic constraints, and electronics sales dropped by 10.6 percent and reduced demand for home appliances.
Compared to the previous month, retail sales rose 1.2 percent in November on climate change levels, following a 1 percent drop in October.
After the government lifted the epidemic measures in September, COVID-19 cases in Japan dropped by less than one million people earlier this month.
No restrictions have been lifted, other than to limit restrictions on the spread of the new version of the Omicron.
The third world economy is expected to grow 6.1 percent annually from a 3.6 percent decline in July-September, according to a recent study by Reuters.
