Japan Consumer Confidence February 2017


Japan: Consumer confidence dips from January's over three-year high

March 3, 2017

Consumer sentiment inched down to 43.1 in February from January’s over three-year high of 43.2. The marginal decline was unexpected, as market analysts had predicted the index would rise 0.3 points. 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.

February’s reading reflected an uneven deterioration in consumer confidence as three of the four main sub-components of the index lost ground from the previous month’s result. Households’ perceptions of their job prospects was the exception and once again improved in February, reaching an 18-month high. Consumers’ assessments of their income growth declined the most, while consumers’ views on their overall livelihood and their willingness to buy durable goods fell more moderately.

FocusEconomics Consensus Forecast panelists expect private consumption to rise 0.8% in 2017, which is unchanged from last month’s forecast. In 2018, the panel also sees private consumption growing 0.8%.

Author:, Economist

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Japan Consumer Confidence Chart

Japan Consumer Confidence February 2017

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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