"Abenomics" is the name given to Japan's effort to get itself out of a multi-decade slump via an aggressive bout of monetary easing , the likes of which it hasn't pursued in the past.
One of the common misconceptions about Japan , and the Japanese strategy is that monetary easing is about weakening the yen , and boosting exports via cost competitiveness against its global manufacturing peers.
This may be a tertiary effect , but the real game is to boost inflation expectations in order to boost domestic spending. The key thing to think about is that in a deflationary environment , it behooves the consumer to delay purchases , since they'll be cheaper tomorrow or the next month. Abenomics seeks to break this pattern.
So does it?
Well here's a chart of Japanese retail sales , via Wells Fargo. There's your answer.
Meanwhile , it's not just consumer demand looking hot.
Here's a nice look at industrial production.