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Agriculture, financial services, biotech/pharmaceuticals and telecommunications also accounted for a large portion of Japan’s GDP. . Automobile factories are curtailing production but the drop in consumerdemand is influencing those actions as much as part shortages.
However, the FOMC evaluates the 2% goal against the Personal Consumption Expenditures Price Index (“PCE”) (addressed below). Further, higher labor costs also support higher consumerdemand. Consequently, higher labor costs can also create inflationary pressure at the consumer level. percent before seasonal adjustment.” [2]
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