Japan Consumer Confidence August 2019

Japan

Japan: Consumer confidence tumbles to over five-year low in August

August 29, 2019

Consumer sentiment declined from 37.8 in July to 37.1 in August. The print represented the lowest reading since April 2014 and was below the 37.5 expected by market analysts. 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 more pessimistic about their willingness to buy durable goods. Sentiment regarding overall livelihood and job prospects posted a softer drop in the month. Income growth, however, was unchanged from July’s print. Regarding inflation, expectations of higher prices declined in August, with 87.0% of respondents expecting prices to trend higher (down 0.1 percentage points from last month’s survey).

FocusEconomics Consensus Forecast panelists expect private consumption to rise 0.6% in 2019, which is up 0.1 percentage points from last month’s forecast. In 2020, the panel sees private consumption growing 0.1%.


Author: Ricard Torné, Lead Economist

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Japan Consumer Confidence August 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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