Japan Consumer Confidence February 2019


Japan: Consumer confidence continues to decline in February

February 28, 2019

Consumer sentiment declined from 41.9 in January to 41.5 in February, marking the lowest reading since December 2016. The print disappointed market expectations of a softer fall to 41.6. 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 overall livelihood category and their willingness to buy durable goods. Households confidence about their income growth waned somewhat. Conversely, job prospects improved in February. Regarding prices, expectations of higher prices rose slightly in February, with 86.0% of respondents expecting prices to trend higher (up 1.9 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%.


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Japan Consumer Confidence Chart

Japan Consumer Confidence February 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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