Despite Virus, China Consumer Confidence Remains Envy of World
Lack of a free press and fewer retail investors has suppressed fear in China, while Japan faces biggest hit from outbreak.
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The coronavirus is increasingly weighing on global consumer sentiment, but its impact can vary greatly.
Take Japan. The outbreak there has been mild, but among major economies consumer confidence has taken the biggest hit, according to daily tracking surveys in 12 countries by Morning Consult, a data-intelligence provider. The main reason is that Japanese shoppers were already quite negative thanks to a sluggish economy and a recent increase in taxes on consumer goods.