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Weak data strains credibility of Abenomics

Retail sales, household spending weakened in January; consumer price inflation also slowed

IN CONTROL: Bank of Japan governor Haruhiko Kuroda (seen here in a recent meeting with the media) has stood his ground on the need for fiscal consolidation, and defended the need to achieve a primary budget surplus by fiscal year 2020.


PRIME minister Shinzo Abe and Bank of Japan (BOJ) governor Haruhiko Kuroda were both forced into the defensive on Friday, as data revealed that the drop in retail sales and in household spending last month had been sharper than feared.

Consumer price inflation had also slowed