TOKYO - Japan's currency in circulation and bank deposits rose at a record annual pace in February, data showed on Tuesday, as uncertainty over the coronavirus pandemic continued to prod companies and households to pile up savings. The data highlights how slow vaccine rollouts and sluggish consumer spending could delay Japan's economic recovery, even as markets price in prospects of stronger global growth. Japan's M3 money stock - or currency in circulation and deposits at financial institutions - jumped 8.0% in February from a year earlier, marking the biggest increase on record, Bank of Japan data showed. The rise topped a 7.8% gain in January. Bank deposits surged a record 15.8% in February, while cash in circulation grew 6.1%, the data showed. "Households' deposits are rising, suggesting that consumers are holding back on spending," Takashi Nagahata, head of the BOJ's economic statistics division, told a briefing. If infections continue to rise, households may pile up savings and corporate demand for funds could increase in sectors vulnerable to COVID-19 such as restaurants and hotels, he said. "The outlook largely depends on developments over the pandemic," Nagahata said. Japan's economy emerged from the initial hit from the pandemic, expanding an annualised 11.7% in October-December thanks to a rebound in overseas demand. But a resurgence in infections forced the government to roll out a new state of emergency in January, heightening expectations the economy will suffer a contraction in the current quarter. REUTERS
Us apple developer accounts for sale
buyappleacc.com is a reputed website selling apple developer account, providing us, China and worldwide developer individual accounts for sale. It's at low price and good quality. Always provides satisfying services!