Japan’s demand for services fell for a second month in March as companies pared spending at wholesalers and on information and communication.
Japan’s industrial production and household spending fell more than forecast and inflation surged to a 23-year high on a tax rise that is pinching consumers who have seen limited wage gains.
Japan’s consumer prices fell for a 17th month and household spending rose less than forecast, driving stocks lower on concern that the nation’s economic recovery is faltering.
Employers in the U.S. took on more workers in March than a month earlier and the jobless rate fell, indicating companies were confident sales will rebound from a weather-related setback, according to economists.
Japan risks losing its position as the world’s top creditor nation, as dwindling savings become insufficient to finance growing public debt, a Bloomberg News survey of economists indicates.
The Bank of Japan added 10 trillion yen ($118 billion) in liquidity injections after a surge in the nation’s currency to a 15-year high threatened economic growth.
Bank of Japan Deputy Governor Kiyohiko Nishimura said the country’s economic recovery is beginning to stem deflation and the central bank should persist with its accommodative monetary policy.