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60% of consumption tax increase for one month “Sales decrease” Survey of 50 major companies

2019-11-01T08:51:51.646Z

The consumption tax rate has been raised to 10%, making it one month a day. NHK surveyed 50 major companies such as retailers and restaurants ...



60% of consumption tax increase for one month “Sales decrease” Major 50 companies survey November 1 17:46

The consumption tax rate has been raised to 10%, making it one month a day. When NHK surveyed 50 major companies such as retailers and restaurants, 60% of respondents said that sales increased after the tax increase compared to the same period of the previous year.

NHK conducted a questionnaire survey of 50 major companies such as retailers and restaurants to explore the impact of the consumption tax hike.

When asked about the last-minute demand before the tax increase, 14 companies responded that “there was no last-minute demand”, “it was smaller than when the tax rate rose to 8% five years ago.” There are more than half of 28 companies. Only 5 companies, 10% of the total, answered “It was bigger than 5 years ago”.

In addition, after the tax increase, when asked about the change in sales until around the 10th of last month, 30 companies, 60% of the total, answered “decreased” compared to the same period of the previous year, of which 15 companies are over 10% , Responded that sales decreased. Many of the major supermarkets, department stores, and home electronics mass retailers answered that sales decreased by more than 10%. On the other hand, there were 7 companies that did not change and 5 companies that increased.

When asked about the reason for the change in sales in a free statement, companies that responded that they had declined responded in a wide range of industries, such as “Rebound of last-minute demand before raising the consumption tax rate” and “Strengthened savings”.

Furthermore, when 30 companies that said their sales declined after the tax increase were asked when they thought that sales would return to the same level as the previous year, two companies that said "within one month". , “Within 3 months” was the largest among 14 companies, nearly half of them. On the other hand, a total of 12 companies answered “about half a year” or “more than half a year”, and 40% thought that the impact would be prolonged.

When asked about the future domestic economy, nearly half of the 24 respondents answered “no change” and 16 companies, more than 30%, said “deteriorating”. Only one company said “upward”.

Source: nhk

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