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Japan's consumer confidence index posted a first m/m rise in three months in June, with all components improving from the previous report, data released by the Cabinet Office Wednesday showed, an upgrade to the official assessment. The index rose to 37.4 in June from 34.1 in May, the latest Consumer Confidence Survey data showed.
Japan Consumer Confidence
Source: Bloomberg
An official at the Cabinet Office told reporters the index had yet to reach pre-pandemic levels, but was at the highest since the start, although noting confidence tended to be influenced by the number of infections. The latest survey was conducted from June 8 to Jun 21, when the number of infections had fallen.
Consumers were more optimistic in the all four components. The sub-index on asset prices, not included in calculating overall consumer confidence, stood at 41.4 in June, up from 39.8 in April. The share of respondents projecting consumer price gains rose to 79.9% in June after falling to 74.9 in May. The share of respondents forecasting lower prices fell to 5.1% in June from May's 7.3%.
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.