Japan clobbered by weak inflation, business confidence

So, after four years of Abenomics nothing has changed. His main platforms of his campaign were to increase inflation and boost production, as well as increase consumer confidence. He has effectively failed in every aspect.

...this is situation despite more than 3 years of massive monetary & fiscal stimulus under Abenomics :(

His policies are a complete failure. He is a complete failure. Time to boot him and the rest of the LDP punks out!

North Korea's missiles fly better than Abe's Arrows.

No blaming Brexit for this please. Japan's structural and societal problems have been decades in the making and Abenomics are just making the patient even sicker.

Why the world buys the currency of the country of weak economy?

These figures are for May, before the UK referendum took place. Remember that when Dishonest Abe tries to blame the failures of Abenomics on external factors rather than his own, useless policies.

Falling prices may sound like a good thing for consumers but they tend to delay spending, which in turn hits firms’ hiring and expansion plans, which is bad for the economy.

Please stop copy-pasting this paragraph into article after article in the business section. It is biased LDP propaganda and isn't even true. When was the last time you put off buying a liter of milk because it might be one yen cheaper a year from now?

Scrote: I've had to correct so many Japanese this past week who have been blaming Brexit for all their own country's woes. Shameless.

"Spending by households across the country fell in May" has it ever dawned on these bureaucrats you can't spend what you don't have. Everything is on the rise except wages, get off you political backsides get out in the street and ask the housewives, they are the barometer of public spending. Ah! but thats never going to happen, all we see now the election is looming are the vans driving round, white gloves waving, megaphones blasting. Time to have public televised debates, all parties, facing embarrassing questions from the public. Look around the world, the political tide is changing, people are tired and frustrated by the political elite and all their lies, people are demanding change.

Most of the 26% of the population now over 65 living on rice and pickles, not spending any of their fortunes holed up in the Post Office. Their siblings all on part time contracts terrified to get married and have kids could do a with a leg up, but the stubborn old folks will wait until they pass and the money all goes to the Govt.

A hotter than normal summer on the cards and typhoon season coming means unfortunately many will not use aircon and go up on the roofs to check if the tiles are OK which will probably make this 26% lower by October. Scheesh.

Time to have public televised debates, all parties, facing embarrassing questions from the public. Look around the world, the political tide is changing, people are tired and frustrated by the political elite and all their lies, people are demanding change.

Doubt if Sanae Takaichi Minister for Internal Affairs and Communications will allow that. No, Of course not.

Abenomics is a cover and was never meant to be taken seriously. Abe does not care about the economics. Abenomics was just a cover for his ultiimate goal. Making Japan a military power again. Beautifying Japanese history to restore the reputation of his grandpapa Kishi, and show that Japan liberated Asia from European Imperialism. Japan is the Hero!!!

Most of the 26% of the population now over 65 living on rice and pickles, not spending any of their fortunes holed up in the Post Office. Their siblings all on part time contracts terrified to get married and have kids could do a with a leg up,

Wouldn't the siblings of those over 65 also on average be over 65? Definitely not considering having kids, anyway!

the stubborn old folks will wait until they pass and the money all goes to the Govt.

Most old folk (certainly most of those eking out their days on rice and pickles) don't have enough in the PO or anywhere else to interest the govmint. Most people do not pay any inheritance tax. Even with the stinking rich, the govmint doesn't touch the first ￥72 million at all and gets only 55% of anything over that - for each heir.

The election is NOT a mandate for his continued failure -- there are simply no options. Saying that if he and the LDP wins people are obviously happy of and approve of the failure that is Abenomics is extremely childish and just plain wrong.

Nonetheless, he will use the win as "proof that people approve of his policies" and keep on failing.

smithinjapanJul. 01, 2016 - 07:38PM JST

The election is NOT a mandate for.....

Wrong, in a democracy, an election is a mandate for whoever wins.

It's the flaw of Democracy. A flaw at its best which produces the dictatorship of the majority over the minority. At it's worst, as in Japan's case, mandates the dictatorship of the minority over the majority.

Get used to it.

Japan was clobbered with a one-two punch Friday as weak data and a lackluster business confidence report underscored the slowdown dragging on the world’s number three economy.

Clobbered? Not even close. More like a light slap to the face as clobbering carries the expectation that things were humming along as expected. The reality is the reverse and NO ONE expected any "good" news.

Over exaggerating that things are better than the reality of what is already common knowledge, that Japan's economy is in the crapper still, is typical yellow journalism.

Everyday people scored a win again, since deflation is their friend.

@ThonTaddeo

Lol, but so true!

More stimulus please ~~~~

Obviously the first round didn't stop ppl from driving the YEN stronger

Honestly just keep propping up the economy, since no of it makes any difference to the everyday consumer.

None of my monthly bills changed dramatically even though the yen was inflated to 1 USD = 120 JPY, so just re-inflate it again.

If wages are not going to improve with either a weak or strong yen, then might as well keep the yen weak.

Having a strong yen doesn't make your gas / electric bill any cheaper. Having a strong yen doesn't help Japanese consumers, since most Japanese people want to buy everyday goods which are made in Japan.

Wow my YEN is so strong, I can go buy a bunch of imported Chinese products.......

Why the world buys the currency of the country of weak economy?

They're doing it to undermine Abe's superior plans of Japan is back. Once again, the world failed Japan.

"The poor readings will heap pressure on policymakers to unveil more stimulus..." sounds like a good idea. They can raise taxes to pay for it!

Just leave the YEN be at 117 - 123 seems to work favorably., especially since they hold it to the 117.01 117.02, 117.04 and something like 117.08 is a huge impact...what kind of idiots do they think people are. It's currency manipulation pure and simple.

Lol, inflation dropping is good for economies. It means the negative effects of government are becoming less. Inflation is 100% government caused and generally reflects government overspending, over regulating or just incompetence. Yes it looks like a stock market loss but it isn't. Inflation is monopoly money, it is better to h a very stocks valued closer to real value,with less of the inflation caused fake money, it shows a solid economy to grow from

Once again, the world failed Japan.

As an excuse ok. Feed the flames that somehow Japan is different and it's "us vs them" or

Why does the world owe Japan anything?

This should say "Japan clobbered by Abe and his ilk".

Wrong, in a democracy, an election is a mandate for whoever wins.

Yes but this is Japan where the LDP has held power for 61 of the past 66 years. It´s hardly a democracy here and this is no secret to anyone.

Wrong, in a democracy, an election is a mandate for whoever wins.

In a real democracy, each person gets one vote. In Japan, rural voters get three votes each, and those who live int he cities get only one vote each. The LDP has bought these votes for decades by heavily subsidizing agriculture, and taxing imported food.

Whenever a difficult election season comes up, the LDP passes a spending bill which largely aids the rural voting block, which contains a minority of people who still have the majority of the votes.

How is that for democracy?

For the past twenty years, prices and wages here have gone nowhere. Meanwhile, in all of the big markets for Japanese exports, salaries and prices are way up. From a base line of 100 in 1990, by virtue of literally doing nothing, Japan is still close to that mark. Meanwhile, the cost base in all its competitors has increased steadily year by year. The surge in the value of the yen of late is indicative of an appreciation in global capital circles that Japan has gained a tremendous cost advantage. It was only a matter of time before the hungry sharks zeroed in to feast with this rejigging of the currency.

Like many of the above have mentioned Abe has proven he is a halfwit as are his cronies. The fact the 5trillion yen lost from the pension fund is not being reported in the national new goes to show how far they will go to remain in power. Guess its time for them to turn on the money printer again.

No growth expected at home and abroad. Wonder what Japanese businesses have to say about not raising wages when they had the chance. Stupid Japanese companies that can't see further then their nose.

Geez recycling articles that dont exist....interesting.

The wages in my industry haven't changed in 20 years here. Other countries wages were elevated to match the cost of live so now anyone coming here get paid less than the would in their own country and the ones that were here have gone home because there is no incentive here anymore.