Japan's Nishimura: Japanese consumer spending is recovering

Omkar Godbole FXStreet Contributor

While Japan's consumer spending is recovering, the economy hasn't yet recovered to pre-coronavirus pandemic levels, the nation's Economy Minister Nishimura said on Tuesday, adding that capital spending by both manufacturers and non-manufacturers remains weak because of worsening corporate earnings amid the pandemic.

Nishimura also stressed the need to prevent Japan from returning to deflation.

USD/JPY is sidelined near 104.00 at press time, with investors paying little heed to Nishimura's comments.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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