The state of emergency declared in the Greater Tokyo area this week only entails mild restrictions on economic activity and we think it will soon be extended nationwide and made more draconian in virus hotspots. However, the impact on private consumption is likely to be much smaller than during the first state of emergency last April.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services