Japan Consumer Confidence August 2020


Japan: Consumer confidence slips lower in August

August 31, 2020

The consumer confidence index came in at 29.3 in August, marginally down from July’s 29.5. As a result, the index—which measures consumer expectations about the economy for the next six months—remained well below the 50.0-threshold, which separates pessimism from optimism among consumers.

The headline print reflected a broad-based deterioration in consumers’ assessments regarding the coming six months: Perceptions of employment opportunities, future income, overall livelihood all decreased from July’s survey. Meanwhile, consumers’ willingness to make durable goods purchases improved somewhat from July.

FocusEconomics Consensus Forecast panelists project private consumption to contract 5.8% in 2020, which is down 0.5 percentage points from last month’s forecast. In 2021, the panel sees private consumption growing 2.6%.

Author:, Economist

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Japan Consumer Confidence Chart

Japan Consumer Confidence August 20 20

Note: Consumer Confidence Index (seasonally adjusted series). A reading above the 50.0-threshold suggests consumers are optimistic about the economy, whereas a reading below the threshold points to pessimism.
Source: Cabinet Office (CO).

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