Japan Consumer Confidence

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Japan: Consumer sentiment free fall continues in April

May 21, 2014

Consumer sentiment fell from the 37.5 points recorded in March to 37.0 points in April, marking the lowest level since August 2011. The consumer confidence index measures consumers’ expectations for the next six months on a scale of 0–100, where 100 points indicates that all respondents see their living standards improving.

April’s drop was the result of an across-the-board deterioration in consumer confidence as all but one of the subcategories lost ground over the previous month. Consumers were significantly more pessimistic regarding expectations for income growth. Households’ views on employment prospects and overall livelihood also declined in April. Conversely, households were more optimistic regarding their willingness to buy durable goods going forward.

FocusEconomics Consensus Forecast panelists expect private consumption to increase 0.5% in 2014, which is up 0.1 percentage points from last month’s forecast. In 2015, the panel sees private consumption growing 0.4%.


Author: Ricard Torné, Head of Economic Research

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Japan Consumer Confidence Chart


Japan Consumer Confidence April 2014

Note: Index of consumer sentiment. The 50-point threshold represents the point above which consumers expect economic conditions to improve.
Source: Cabinet Office (CO).


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