The government has now expanded the state of emergency from the initial seven prefectures to the entire country, allowing prefectural authorities to request citizens to stay at home. The experience from those prefectures where the government already made such requests is that they are followed by the majority of citizens. As such, consumption is set to plunge further over the coming weeks. The government unveiled some fiscal support last week but it is now acknowledging that more needs to be done.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.