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Japan Consumer Confidence March 2024

Japan: Consumer confidence hits highest reading since May 2019 in March

Consumer confidence came in at 39.5 in March, up from February’s 39.0. March’s result marked the strongest sentiment since May 2019. Despite the uptick, the index remained below the 50-threshold, separating pessimism from optimism among consumers.

Households’ sentiment strengthened regarding income growth, employment, and willingness to buy durable goods.

The stronger reading bodes well for private spending, which our panelists expect to rebound in Q1 after contracting in Q4.

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