Investment has been robust in the nonmanufacturing sector as well; for example, there has been a rise in construction of distribution facilities, reflecting an expansion in e-commerce, and of accommodation facilities targeted for inbound demand. Private consumption has increased moderately, with the employment and income situation continuing to improve steadily.
It is said that an increase in demand prior to the scheduled consumption tax hike has been seen in part, including sales of automobiles and household electrical appliances, but it seems only marginal compared with that of the previous hike. Looking at consumption-related indicators, inbound demand from foreign visitors has increased significantly for the past six years, by about four times.