MNI BRIEF: Japan April Consumer Confidence Rises

Japan's consumer confidence index posted its fifth straight rise in April, with all components improving over March, supporting the Bank of Japan's view that private consumption has increased moderately despite inflation, data released by the Cabinet Office showed Monday.

The consumer confidence index rose to 35.4 in April from 33.9 in March. The latest survey was conducted from April 7 to April 20. The sub-index on asset prices, not included in calculating overall consumer confidence, stood at 41.2 in April, up from 38.5 in March. The data also showed the share of respondents projecting consumer price gains fell to 93.2% in April from 94.1% in March. The share of respondents forecasting lower prices rose to 2.4% from 2.3%.

The result prompted the Cabinet Office to upgrade its assessment, noting consumer spending was recovering. The previous view held that consumer spending showed signs of recovery.