Japan: Consumer confidence ticks down in September
October 11, 2012
The seasonally adjusted consumer confidence index deteriorated in September, falling to 40.1 points, down from the 40.5 points recorded in August. As a result, consumer sentiment is now 2.0 points above the level observed in the same month last year. 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 drop was broad-based as all but one of the main components deteriorated over the previous month. The largest losses were seen in job conditions and, to a lesser extent, in the willingness to buy durable goods, while the overall livelihood sub-category retreated timidly. On the other hand, income growth recorded a mild gain. Owing to the monthly fall, the Cabinet Office maintained its assessment, saying that "consumer sentiment is weakening".