Japan Consumer & Retail Q4 2020
Relaxation of lockdowns and movement restrictions, travel recommencing, non-essential retail and hospitality reopeningand the launch of government stimulus packages, are all being taken into account in our forecasts for the Japan consumerspending outlook in the short-to-medium term (2020-2024). The spread of Covid-19 globally will have a negative impact on Japan’sconsumer spending in 2020, with real household spending forecast to contract by -7.5% y-o-y. In 2021 we project a recovery to getunderway, with a growth of of 0.8% y-o-y projected.
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