Nearly 70% of Japanese households expect to cut back on spending after October&#...
FILE PHOTO: People walk past a sale sign in a shop at a shopping district in Tokyo, Japan, July 20, 2018. REUTERS/Kim Kyung-Hoon/File Photo
TOKYO - Nearly 70% of Japanese households expect to cut back on spending after October’s increase in the sales tax rate, a central bank survey showed on Friday. The survey also showed 37% of households had front-loaded purchases ahead of the October tax hike to avoid the heavier levy, with purchases centering on daily necessities and cars.
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