Japan Consumer Confidence November 2016


Japan: Consumer confidence falls to a six-month low in November

December 5, 2016

Consumer sentiment fell from October’s 42.3 to 40.9 in November, which marked the lowest print since May. 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.

November’s reading was the result of a broad-based deterioration as all the main sub-components of the index lost ground from the previous month’s result. Households’ perceptions of their job prospects declined the most, followed by their views on their willingness to buy durable goods and their overall livelihood. Consumers’ assessments of their income growth fell only mildly in the same month. As a result of November’s decline, the government downgraded its assessment of consumer confidence for the first time in nine months, stating that, “the pace of pickup has slowed.”

FocusEconomics Consensus Forecast panelists expect private consumption to rise 0.5% in 2016, which is unchanged from last month’s forecast. In 2017, the panel sees private consumption growing 0.8%, which is also unchanged from last month’s estimate.

Author: Ricard Torné, Lead Economist

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Japan Consumer Confidence Chart

Japan Consumer Confidence November 2016

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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