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Japan's consumer confidence index fell for the first time in three months as all components worsened in August from the previous month but the Cabinet Office left its assessment unchanged, the data released Tuesday showed
The index fell to 36.7 in August from 37.5 in July, according to the latest Consumer Confidence Survey, with consumers more pessimistic in all four components: overall economic well-being, income conditions, labour market situation and the willingness to buy durable goods. The Cabinet Office retained is stance that the economic situation "remains severe but the recovery continued."
The sub-index on asset prices, not included in calculating overall consumer confidence, stood at 40.6 in August, up from 40.2 in July. The share of respondents projecting consumer price gains fell to 78.5% in August after falling to 79.3 in July. The share of respondents forecasting lower prices rose to 5.0% in August from July's 4.8%.
Japan Consumer Confidence Index
Source: Cabinet Office Consumer Confidence Survey
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.