worldUpdated: Apr 07, 2020 08:49 ISTJapan’s consumer spending fell in February but at a slower-than-expected pace as households scrambled for protective masks, toilet paper and staple food amid the worsening coronavirus pandemic. But spending on travel and entertainment slumped, government data showed on Tuesday, a sign households were cutting back on non-essential purchases even before travel bans and social distancing policies took effect in March. In a crisis like this, Japan has little choice but to embark on helicopter money like other major economies,” he said. Spending on toilet paper jumped 47% in February from a year earlier, while that on domestic package tours slumped 37%. While the stimulus could ease the immediate damage from the pandemic, lawmakers are already calling for even bigger spending to prevent bankruptcies and job losses.

Source: Hindustan Times April 07, 2020 02:34 UTC