Japan: Consumer sentiment recovers slightly in November
December 10, 2013
In November, consumer sentiment rose from 41.2 points in October, which had marked the lowest reading in 10 months, to 42.5 points. November's increase, however, undershot market expectations of a rise to 44.0 points. The consumer confidence index measures consumers' expectations over the next six months on a scale of 0-100, where 100 points indicates that all respondents see their living standards improving.
Consumers were more optimistic regarding their employment prospects; their outlook on income growth also improved. Households' views regarding their overall livelihood also improved in November. Conversely, consumers' willingness to buy durable goods declined slightly.
FocusEconomics Consensus Forecast panelists expect private consumption to increase 1.8% in 2013, which is unchanged from last month's forecast. In 2014, the panel sees private consumption growing 0.6%, which is also also unchanged over the previous month's estimate.