Japan Consumer Confidence

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Japan: Consumer confidence in December up for first time in five months

January 19, 2015

Consumer sentiment rose from the 37.7 points recorded in November to 38.8 points in December. The print represented the first increase in consumer confidence in five months. The consumer confidence index measures consumers’ expectations for the next six months on a scale of 0–100, where 100 points indicates that all respondents see their living standards improving.

December’s result reflected a broad-based improvement in all the main sub-categories. Job conditions, the overall livelihood category and income growth recorded the largest increases. Consumers’ willingness to buy durable goods was also up in the same month. Analysts believe that Prime Minister Shinzo Abe’s decision to delay the second stage of the consumption tax hike has played a role in December’s improvement.

FocusEconomics Consensus Forecast panelists expect private consumption to rise 0.2% in 2015, which is unchanged from last month’s forecast. In 2016, the panel sees private consumption growing 1.0%.


Author: Ricard Torné, Head of Economic Research

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Japan Consumer Confidence December 2014

Note: Index of consumer sentiment. The 50-point threshold represents the point above which consumers expect economic conditions to improve.
Source: Cabinet Office (CO).


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