Japan's consumer confidence index posted its first rise in two months in March as all components improved, in line with the Bank of Japan’s view that private consumption has increased moderately, despite price rises and prompting the Cabinet Office to upgrade its assessment from the previous month, data showed on Monday.

The index rose to 33.9 in March from 31.3 in February, according to the survey from March 7-20.

The Cabinet Office said consumer spending showed signs of recovering. It had previously seen it as weak.

The sub-index on asset prices, not included in overall consumer confidence, stood at 38.5 in March, up from 36.9 in February. The share of respondents projecting consumer price gains fell to 94.1% in March from 94.3% in February. (See MNI POLICY: BOJ Eyes Orders Amid Tighter Global Conditions)