Mount Fuji, Japan

Japan Consumer Confidence May 2025

Japan: Consumer sentiment improves in May

Latest reading: Consumer sentiment rose to 32.8 in May from April’s 31.2, marking the first increase after five months of decline. However, the index remained at one of the weakest levels in the past year and entrenched below the 50-threshold, indicating sustained pessimism among consumers.

All subcomponents of the consumer sentiment survey improved compared to the past month. Consumers’ willingness to buy durable goods remained the weakest subcomponent, likely reflecting the impact of recently high inflation on disposable income.

Outlook: Despite May’s uptick, consumer sentiment in Q2 so far has averaged at the lowest level since Q1 2023. This bodes poorly for private spending, which our panelists expect to expand at a weak pace for the third quarter running in Q2.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen