Japan: Consumer confidence weakens in October
November 9, 2012
The seasonally adjusted consumer confidence index deteriorated in October, falling to 39.7 points, down from the 40.1 points recorded in September. That said, consumer sentiment is now 1.4 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 the main components deteriorated over the previous month. The largest losses were seen in job conditions and the overall livelihood category. The willingness to buy durable goods also fell considerably in September, while income growth was broadly unchanged. Owing to the monthly fall, the Cabinet Office maintained its assessment, saying that "consumer sentiment is weakening".