Japan: Consumer sentiment continues to improve in February
March 12, 2013
The seasonally adjusted consumer confidence index continued to gain momentum in February, rising to 44.3 points from 43.3 points in January. As a result, consumer sentiment now sits at levels not seen since June 2007. 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 rise was broad-based, as all the main components that comprise the index improved over the previous month. The largest gains were seen in job conditions as well as in income growth. On the other hand, the willingness to buy durable goods and the overall livelihood categories recorded milder increases.
FocusEconomics Consensus Forecast panellists anticipate private consumption to increase 0.6% in 2013, which is up 0.2 percentage points from last month's forecast. In 2014, the panel sees private consumption growing 0.5%.