Economy Offers Japan's Abe and Opponents Ammunition for Campaign
- Japan’s moderate recovery remains on track, economists say
- Yet wage growth, consumer spending point to weaknesses
Pedestrians cross a road in front of an electronic stock board outside a securities firm in Tokyo, Japan, on Friday, June 9, 2017. The Topix index closed higher after swinging between gains and losses, and the yen weakened, as the market continued to digest former FBI chief James Comey's Senate testimony, the European Central Bank rate decision and U.K. election results.
Photographer: Noriko Hayashi/Bloomberg via Getty ImagesA slew of data released on Friday showed that Japan’s economy is continuing to recover, bolstering Prime Minister Shinzo Abe’s case ahead of a general election next month. But the opposition could also find plenty of ammunition in the data to use against him.
After nearly five years of Abenomics, the economy has expanded for six straight quarters, and likely a seventh during the July-September period, which would be the longest run since 2001.