The Week In Hindsight, 27 December 2013
Shinzo Abe received a welcome signal once more this week that his reformist policies could be working .This was as Japanese retail spending was revealed to have surpassed all forecasts along with the national core CPI measurement.
The positive developments were followed closely on the heels by a survey of the average Japanese worker’s earnings. The survey showed that take final home pay grew faster than predicted throughout November.
The growth in earnings and consumption heralds another milestone of accomplishment for the incumbent Prime Minister as he fights to end nearly two decades of deflation and economic decline. This comes as Japan prepares to close out the year having featured as one of the fastest growing developed world economies for three consecutive quarters this year.