“Japan is showing signs of escaping from its 15 years of deflation, although we are still part-way along in that process,” Abe said.
“We have been calling on employers to raise salaries from April,” he said.
He cited one sign of progress being an average ￥53,000 increase in winter bonuses, according to a Japanese Trade Union Confederation survey.
Japan’s economy is forecast to shrink an annualized 4.5 percent in the quarter starting in April, according to a median estimate of economists surveyed by Bloomberg News. GDP rose an annualized 1.1 percent from July to September, revised data showed yesterday, slowing from 3.6 percent the previous three months and 4.5 percent in the January-to-March period.