Japan: Consumer confidence hits 11-month low in November
December 10, 2012
The seasonally adjusted consumer confidence index deteriorated further in November, falling to 39.4 points, slightly down from the 39.7 points recorded in October. Although consumer sentiment hit its lowest level since December 2011, the index is still 1.1 points above the level observed in the same month last 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 job conditions and in the willingness to buy durable goods. In addition, the overall livelihood category declined slightly. On the other hand, income growth was unchanged.
Owing to the monthly fall, the Cabinet Office downgraded its assessment, saying that "consumer sentiment shows signs of weakness".