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“Household savings rate is still quite high, meaning the level of spending, level of consumption, of disposable spending is much, much lower than the level before the pandemic,” he said.
According to Mr Adachi, Japan’s economic outlook may not improve much unless it can stem the trends of a fast-shrinking population, low productivity, and stalled structural reform.
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Economic concerns aside, worshippers at the shrine were also praying for good health, as fears of the pandemic have not completely gone away.
“I hope I do not catch the COVID-19 virus this year and be healthy,” said a visitor at the shrine.
(Except for the headline, this story has not been edited by PostX News and is published from a syndicated feed.)
