Japan's retail sales extend slump as coronavirus curbs keep shoppers away

13 Sept 12:25 Key points summarised by AI

Japan's retail sales plunged 12.3% in May, marking the second straight month of double-digit declines, as coronavirus restrictions severely impacted consumer confidence.
This sustained slump, following April's significant drop, raises concerns about a prolonged recession for the world's third-largest economy.
Despite a slight month-on-month increase, consumer caution persists, with the effectiveness of government cash payouts in stimulating 'revenge spending' remaining uncertain amidst fears of future economic instability.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.