Japan: Consumer confidence ticks up in August
September 10, 2012
In August, the seasonally adjusted consumer confidence index rose to 40.5 points, which was above the 39.7 points recorded in July. The print represents the first monthly gain in three months and overshot market expectations that had the index falling to 39.4 points. The consumer confidence index measures consumer expectations over the next six months, with a value of 100 points indicating that all respondents see their living standards improving. The monthly increase was broad-based, but particularly reflected a healthy rise in job conditions and, to a lesser extent, in the willingness to buy durable goods. Meanwhile, the income growth and the overall livelihood sub-categories recorded softer gains. Despite the modest improvement, the Cabinet Office maintained its assessment, saying that "consumer sentiment is weakening", after downgrading it last month.