61. Japanese exports rose and imports fell, more evidence the consumption tax is damping consumer spending. 62. Japanese bonds fell as stronger-than-expected industrial production forecasts roiled speculation the economy will fade after the consumption tax is increased in April. 63. Japan this week reported that industrial production and retail sales fell in April, while unemployment rose after the government increased consumption taxes at the beginning of April. 64. Japanese domestic wholesale prices fell in June from one month earlier as the economy slowed down after the rise in the consumption tax, the Bank of Japan said. 65. Kerry said he had yet to settle on the details of a consumption tax he would support. 66. Kerry said the need for a consumption tax was growing with the underground economy. 67. Leaders of the three ruling coalition parties had already stated that they will not change the plan to increase the value-added consumption tax. 68. Logan said the weakness reflects in part the impact of a new consumption tax that was imposed in Japan in April. 69. Manufacturers are boosting exports to offset the nine-month slowdown in sales following the increase in the national consumption tax. 70. Many mainstream economists applaud the idea of a consumption tax, and say the idea makes sense, however dim its political prospects may be. |