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PM Suga, September recovery, inflation distortion

Public approval for PM Suga’s new cabinet has surged to levels not seen for the entirety of PM Abe’s eight years in charge. That raises the possibility of Mr Suga winning a full three-year term at next year’s LDP leadership election, which would give him time to pursue policy goals which may include banking consolidation and more immigration. Meanwhile, with daily coronavirus cases well below their early-August peak, there are signs that consumer spending has resumed its recovery this month.

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