Big data is providing some surprising results for the Bank of Japan and helping ease concerns about pressure on the economy during the coronavirus pandemic, which could influence the way the BOJ manages the world's most radical monetary stimulus.
By tapping data provided by Google showing people's movements via mobile phones, the BOJ found that households' discretionary spending rebounded faster and more vividly in Japan than in other countries after a state of emergency was lifted in May.
Other big data also showed a marked rebound in sales of durable goods, such as personal computers, which offset some of the weakness in spending on services including leisure, eating out and travel.