Japan: Consumer confidence falls to lowest level in one year
January 16, 2013
The seasonally adjusted consumer confidence index deteriorated further in December, falling from 39.4 points in November to 39.2 points. Although consumer sentiment hit its lowest level since December 2011, the index is still 0.4 points above the level observed in the same month the previous year. The consumer confidence index measures consumer expectations over the next six months, with a value of 100 points indicating that all respondents see their living standards improving.
The monthly drop was broad-based, as all but one of the main components deteriorated over the previous month. The largest losses were seen in income growth and in the overall livelihood category. In addition, willingness to buy durable goods retreated slightly. On the other hand, job conditions gained some ground.