TOKYO -- Japan may see its economy slow in the January-March term after rebounding sharply over the previous two quarters, following the January coronavirus emergency declaration.
Household spending in January slumped 7.3% on the month, the Statistics Bureau said on Tuesday, as the government's stay-at-home requests and suspension of its Go To travel campaign dented demand for dining and tourism. Weak demand for clothes at major retail outlets such as department stores weighed on the economy, along with wealthier older people preferring to stay home amid surging coronavirus cases.
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