Japan’s consumer spending recovering but economy not back to pre-pandemic level: econmin

TOKYO (Reuters) – Japanese consumer spending is recovering but the overall economy has not returned to its pre-coronavirus level, Economy Minister Yasutoshi Nishimura said on Tuesday.

Nishimura, speaking to reporters, said capital spending by both manufacturers and non-manufacturers remained weak because of worsening corporate earnings amid the pandemic.

He also said it was important to prevent Japan from returning to deflation.

(Reporting by Kaori Kaneko; Editing by Chris Gallagher)