Japanese consumer sentiment tumbled once again in the last quarter of 2013. The BoJ survey – released quarterly – showed the second consecutive drop in both current conditions and the outlook. This is the largest two-quarter collapse in the outlook for the Japanese consumer since 2007 as it appears the initial exuberance of Abenomics is collapsing as fast as Abe’s approval ratings. We fear, perhaps, this loss of belief (which can surely only set back his hopes for firms to raise wages) is merely stoking his nationalist militarist persuasion – as indicated by his move last night.
This is the lowest print since Abenomics was unveiled…
Data: Bloomberg
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/tl7_NorGZbk/story01.htm Tyler Durden