Japan Consumer Confidence July 2021


Japan: Consumer sentiment hits 17-month high in July

August 2, 2021

Consumer confidence came in at 37.5 in July, inching up from June's 37.4 and marking the best reading since February 2020. As a result, while the index moved closer to the 50-threshold, it still indicated pessimism among consumers.

The overall improvement reflected a broad-based rise in sentiment: Consumers became less pessimistic regarding overall livelihood, income growth and employment opportunities in the coming six months, while willingness to buy durable goods increased in July compared with the prior month’s survey.

FocusEconomics Consensus Forecast panelists project private consumption to expand 1.5% in 2021, which is down 0.2 percentage points from last month’s forecast, and grow 3.1% in 2022.

Author:, Economist

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Japan Consumer Confidence Chart

Japan Consumer Confidence July 2021 1

Note: Consumer Confidence Index (seasonally adjusted series). A reading above the 50-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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