Japan: Consumer sentiment continues to weaken in November
December 10, 2010
Consumer confidence continued to slide in November, suggesting that household consumption will weaken in the months ahead, despite resilient growth data tallied in the third quarter. In November, the Cabinet Office's index of household sentiment dropped for the fifth consecutive month, inching down to 40.4 points from 40.9 points in October. An index value below 50 indicates that consumer sentiment is pessimistic. The fall in consumer sentiment seized all four main categories comprising the index. In particular, a significant drop in the employment situation component was observed, falling back to the same level observed in March. Meanwhile, unemployment rose from 5.0% in September to 5.1%, in October.