Decline in consumption “Long-term painful response, need to continue in the future” Nissho Chairman June 5, 16:48
This April, Japan's Chamber of Commerce and Industry President Mimura, at a news conference on May, said that household spending in April fell significantly below the same month in the previous year. However, he acknowledged that it is necessary to take long-term measures to achieve both infection control measures and economic activities.
In this, Mr. Mimura said, “This household survey is a very clear result of our self-restraint. For industries such as tourism and restaurants, there is no demand at all, and there is no expense but no income. Is continuing.”
In addition, he acknowledged that "the decrease in consumption has led to a considerable decrease in the production of the manufacturing industry such as the automobile industry, and the influence is spreading to a wide range of industries."
In addition, President Mimura said, "We must prevent the spread of infection, but what should we do to balance economic activity from now on? It is necessary to continue a long and painful battle in the future." In order to achieve both of these goals, he expressed the idea that a long-term response is necessary.