Is Abenomics working for Japan? Prime Minister Shinzo Abe’s bold reflationary policies have produced disappointing growth figures for the end of 2013.
The figures just published for the final three months of 2013, revealed lower than expected private consumption, business investment and shipping.
Growth was just 0.3 percent, instead of a forecast 0.7 percent.
With sales tax increasing in April, most economist expect a spike in private consumption before that, so 2014’s first quarter could look better, but this may only be a one-off hit.
More worrying for the government is that the weak yen has not boosted exports as expected.