Japanese retailers are hoping the birth of a bouncing baby girl to Crown Princess Masako and Crown Prince Naruhito will put some spring in the battered economy, but few consumers were planning spending sprees yesterday.
Shoppers said they were pleased by the safe arrival of the little princess on Saturday, but most dismissed predictions the birth could provide a welcome boost to consumer spending.
"I don't think this will help," said 19-year-old Toshiko Amagasa, on a street lined with stores in Tokyo's lively Shinjuku district.
"I don't feel like doing anything more than saying `Congratulations' to Princess Masako."
Others were blunter.
"It is impossible for this birth to boost the economy," said Bunji Maruyama, 56, strolling with his wife under banners saying "Congratulations to the Crown Prince and Princess."
"The news is happy, yes, but it's only news. It has no connection to reality and doesn't make me want to go out and spend."
Japan's economy, mired in the doldrums for a decade, has been hit by a string of successively grimmer tidings this year.
Unemployment has hit a record high of 5.4 percent and figures due out later this week are likely to confirm the economy has entered its fourth recession in a decade.
Economists and politicians blame a sustained drop in consumer spending for adding fuel to the country's ongoing economic problems.
As a result, retailers -- and some economists -- have set their sights on the arrival of the royal baby, hoping that a mood of national celebration would contribute to an economic jump.
"I do believe this will help," said Eiko Saito, a manager at the baby goods department of a major department store.
"We have special flower displays up in celebration, and people look at them, and their faces brighten."
"There has been a lot of dark news recently, but people's hearts will lighten with the baby's birth. And I believe this will lead to more sales," Saito said.
One economist has predicted the royal birth could prompt an extra ?14 trillion (US$113 billion) in consumer spending by people like Ritsuko Ono, a grandmother-to-be whose daughter's first baby is due next month.
"I came shopping today because of the good news," she said, fingering Ralph Lauren sleeper suits. "This made me feel very happy, and eager to spend more."
According to the Sunday Mainichi magazine, Japan's economy got a boost each time an emperor was born in the 20th century.
In 1901, the economy grew 3.8 percent following the birth of Hirohito, father of the current emperor, Akihito.
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