Japan consumers cling to 'COVID savings' as anxiety grips country

Nikkei -- Feb 05
People in Japan are hoarding the cash they accrued during the pandemic despite an easing of restrictions, with savings actually increasing to 62 trillion yen ($478 billion), or more than 10% of the country's gross national product.

The trend appears to reflect a general feeling of insecurity among consumers about the future -- a mood in stark contrast with the U.S., which saw savings plummet 60% from its pandemic peak. ...continue reading

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