Japan Consumer Confidence

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Japan: Consumer confidence jumps to a two-year high in November

November 4, 2015

Consumer sentiment rose from the 41.5 recorded in October to 42.6 in November. The print beat market expectations of a milder increase to 41.7 and represented the highest reading since November 2013. 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 result reflected a broad-based improvement, with all the sub-categories that make up the index gaining ground over the previous month. Consumers’ willingness to buy durable goods and the overall livelihood category experienced the largest increases. The rise in the job conditions and income growth, however, was more moderate. Consumer confidence is on the upside mainly due to improving job conditions and low oil prices.

FocusEconomics Consensus Forecast panelists expect private consumption to fall 0.6% in 2015, which is down 0.1 percentage points from last month’s forecast. In 2016, the panel sees private consumption growing 1.1%, which is also down 0.1 percentage points from last month’s forecast.


Author: Ricard Torné, Head of Economic Research

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Japan Consumer Confidence November 2015

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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