Japan Consumer Confidence April 2019


Japan: Consumer confidence continues to decline in April

May 9, 2019

Consumer sentiment declined from 40.5 in March to 40.4 in April. The print represented the lowest reading since February 2016 and was a notch above the 40.3 expected by market analysts. The consumer confidence index measures consumers’ expectations for the next six months on a scale of 0–100; a figure of 100 indicates that all respondents see their living standards improving.

Consumers were noticeably more pessimistic about their willingness to buy durable goods, while income growth posted a small decline. Conversely, the overall livelihood category and job prospects posted remarkable gains in April. Regarding prices, expectations of higher prices rose slightly in April, with 87.7% of respondents expecting prices to trend higher (up 1.3 percentage points from last month’s survey).

FocusEconomics Consensus Forecast panelists expect private consumption to rise 1.0% in 2019, which is unchanged from last month’s forecast. In 2020, the panel sees private consumption growing 0.2%.

Author: Ricard Torné, Lead Economist

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Japan Consumer Confidence Chart

Japan Consumer Confidence April 2019

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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