Japan Consumer Confidence


Japan: Consumer confidence broadly stable in May

June 9, 2015

Consumer sentiment fell slightly from the 41.5 recorded in April to 41.4 in May. The print was below the 41.9 that analysts had expected and represented a 3-month low. The consumer confidence index measures consumers’ expectations for the next six months on a scale of 0–100, where 100 indicates that all respondents see their living standards improving.

May’s result reflected a sharp deterioration in job conditions and a slightly downgrade in consumers’ willingness to buy durable goods. On the other hand, the overall livelihood and the income growth categories recorded increases. As a result, the government slightly downgraded its basic assessment of consumer confidence, stating that the pace of a pickup in consumer confidence is “becoming moderate.” In April, the government said consumer sentiment was “picking up.”

FocusEconomics Consensus Forecast panelists expect private consumption to rise 0.3% in 2015, which is unchanged from last month’s forecast. In 2016, the panel sees private consumption growing 1.3%.

Author: Ricard Torné, Lead Economist

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Japan Consumer Confidence Chart

Japan Consumer Confidence May 2015

Note: Index of consumer sentiment. The 50-threshold represents the point above which consumers expect economic conditions to improve.
Source: Cabinet Office (CO).

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