August 30, 2019 / 9:23 AM / 21 days ago

No sign Japanese consumers frontloading spending before sales tax hike: economy minister

FILE PHOTO - Japanese Minister of Economic Revitalization Toshimitsu Motegi attends a news conference on the Trans Pacific Partnership (TPP) Ministerial Meeting during APEC 2017 in Da Nang, Vietnam, November 11, 2017. REUTERS/Kham

TOKYO (Reuters) - Japanese Economy Minister Toshimitsu Motegi said on Friday he saw no sign of consumers front-loading their spending ahead of a sales tax hike scheduled for October.

Motegi made the comments at a news conference when asked about the possible impact of the planned tax rise on consumer spending.

The previous tax hike to 8% from 5% in April 2014 weighed on consumer confidence and set off an economic slump. The tax will be raised to 10% in October.

Reporting by Daniel Leussink; Editing by Simon Cameron-Moore

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