Japan: Consumer sentiment falls in June
July 10, 2013
The seasonally adjusted consumer confidence index deteriorated in June, dropping from 45.7 points in May to 44.3 points, which marks the lowest level in four months. Moreover, the print undershot market expectations, which had the index falling to only 45.6 points. The consumer confidence index measures consumer expectations over the next six months, with a value of 100 points indicating that all respondents see their living standards improving.
The deterioration was broad-based, as all the sub-categories that configure the index lost some ground over the previous month. The largest decrease was seen in job conditions, followed by a milder drop in the overall livelihood category as well as in consumers' willingness to buy durable goods.
FocusEconomics Consensus Forecast panellists anticipate private consumption to increase 0.9% in 2013, which is up 0.1 percentage points from last month's forecast. In 2014, the panel sees private consumption growing 0.6%.