While economic data out of Japan on Friday showed that the country was still mired in deflation, with consumer prices falling 0.1 percent year on year in January, one expert thinks there still exists pent up demand among Japanese consumers.
"Consumers in Japan are flushed with cash, waiting to spend the money," Glen Wood, Partner and Head of Sales at research firm Ji Asia, told CNBC. "Any sign of inflation [cnbc explains] and the Japanese consumer will spring back to life."
He added that Japanese consumers were postponing their spending at the moment on the expectation that prices would fall further, but once there is an indication that prices are set to rise consumers could start spending again. (cnbc.com)
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