Japan's expanded virus emergency to cut consumption by 2 tril. yen

Japan's expanded state of emergency over the novel coronavirus pandemic is expected to dent consumer spending by more than 2 trillion yen ($19.3 billion) as the declaration could lift unemployment and cut sales at eateries and retailers, economists said.Takahide Kiuchi, executive economist at the Nomura Research Institute, estimates that consumption will be reduced by 2.3 trillion yen, as Prime Minister Yoshihide Suga said Wednesday the state of emergency declared for Tokyo and three neighboring prefectures last week was being extended to another seven prefectures.The loss corresponds to 0.…READ FULL ARTICLE