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Japan Consumer Confidence May 2023

Japan: Consumer sentiment hits highest reading since January 2022 in May

Consumer sentiment came in at 36.0 in May, up from April’s 35.4. May’s result marked the strongest since January 2022. Despite the uptick, the index remained below the 50-threshold separating pessimism from optimism among consumers.

Three of the four subcomponents of the consumer confidence index rose in May. Consumers became less pessimistic about the next 12 months concerning their employment, overall livelihood and willingness to buy durable goods. That said, consumers became more pessimistic about their income growth over the next 12 months.

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