‘Abenomics’ yet to increase disposable income: survey

JIJI

Citizens have yet to enjoy the benefits of Prime Minister Shinzo Abe’s economic policies, known as “Abenomics,” in terms of disposable income, a private-sector survey revealed Tuesday.

According to the survey conducted by Orix Bank, only 6.8 percent of respondents said that the amount of money they can use at their own discretion has increased this year.

Meanwhile, 17.0 percent said the amount of such money has decreased, and 76.1 percent said the amount has remained unchanged.

Abenomics has helped bolster stock prices and push down the yen’s exchange rates, but its effects have yet to penetrate households or boost allowances, said the bank, a unit of major leasing firm Orix Corp.

Asked what they want to buy before the planned 3-percentage-point consumption tax rate hike to 8 percent in April 2014, 14.0 percent cited home appliances, followed by 13.8 percent who cited automobiles and 13.3 percent who said they want to take domestic trips.

But 55.8 percent said they can think of nothing special.

The July 3-4 survey on the Internet covered 3,300 adults.