Japan Consumer Confidence October 2019


Japan: Consumer confidence logs first increase in nearly two years in October

October 31, 2019

Consumer sentiment rose from 35.6 in September to 36.2 in October. The print represented first month-on-month gain since November 2017. The consumer confidence index measures consumers’ expectations for the next six months on a scale of 0–100; a figure of 100 indicates that all respondents see their living standards improving.

Consumers were markedly less pessimistic about their willingness to buy durable goods. Sentiment regarding overall livelihood also posted a healthy increase, while income growth rose slightly. Conversely, job prospects continued to decline in October. Regarding inflation, expectations of higher prices declined in October, with 82.6% of respondents expecting prices to trend higher (down 5.0 percentage points from last month’s survey).

FocusEconomics Consensus Forecast panelists expect private consumption to rise 0.1% in 2020, which is unchanged from last month’s forecast. In 2021, the panel sees private consumption growing 0.8%.

Author: Ricard Torné, Lead Economist

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Japan Consumer Confidence Chart

Japan Consumer Confidence October 2019

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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