Japan Consumer Confidence July 2018


Japan: Consumer confidence falls to a near one-year low in July

July 31, 2018

Consumer sentiment inched down to 43.5 in July from 43.7 in June, surprising market analysts who expected it to rise to 47.8. 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.

The slight deterioration in July came on the back of declines across all sub-indices except for income growth. Consumers were more pessimistic about their overall livelihood and were less willing to buy durable goods. Moreover, consumers were more downbeat about their employment prospects. Meanwhile, they were more optimistic about their income growth. Regarding prices, expectations of higher prices decreased slightly in July, with 81.5% of respondents expecting prices to trend higher (down 0.2 percentage points from last month’s survey).

FocusEconomics Consensus Forecast panelists expect private consumption to rise 0.6% in 2018, which is unchanged from last month’s forecast. In 2019, the panel sees private consumption growing 0.9%.


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Japan Consumer Confidence Chart

Japan Consumer Confidence July 2018 0

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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