MNI DATA IMPACT: Japan Consumer Confidence Down On Income View

--Japan April Consumer Confidence Index 40.4 Vs Mar 40.5 

--Japan Govt Keeps View: Consumer Confidence Weakening

     TOKYO (MNI) - Japan's consumer confidence index fell 0.1 to a seasonally

adjusted 40.4 in April, the seventh straight monthly drop, the latest Consumer

Confidence Survey released by the Cabinet Office showed Thursday.

     The dip, which came after a 1.0 point fall to 40.5 in March, was caused

mainly by weaker earnings prospects and for purchases of durable goods.

     --The Cabinet Office left its assessment unchanged, saying consumer

confidence was "weakening." The government in February lowered the assessment

from January when it said that consumer confidence "showed weak moves."

     --Consumers were more pessimistic on two out of the four key sentiment,

income conditions and the next six months would be a good time to buy durable

goods. They are more optimistic on overall economic well-being and employment

prospects.

     --The sub-index on asset prices, which is not included in calculating

overall consumer confidence, showed the first m/m rise in two months, up 1.3

points to 41.6 after falling 0.7 points to 40.3 in the previous month.

     --The survey also showed the public's inflation expectation for the next 12

months rose for the fourth straight month. The share of those projecting price

gains rose to 87.7% in April, after rising to 86.4% in March. The share of

respondents forecasting lower prices stood at 3.4%, down from 3.7% in March.

--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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