MNI DATA IMPACT: Japan Consumer Confidence Higher In June

--Japan June Consumer Confidence Index 28.0 Vs May 24.0 

--Japan Govt Ups View: Remains Severe But Sign of Recovering

     TOKYO (MNI) - Japan's consumer confidence index rose for a second straight

month in June to a seasonally adjusted 28.4 from 24.0 in May, the latest

Consumer Confidence Survey published by the Cabinet Office showed Wednesday.

     --Consumers were more optimistic on all four key sentiment sectors; overall

economic well-being, labor market condition, income conditions, and the next six

months would be good time to buy durable goods.

     --The Cabinet Office upgraded its assessment from the previous month,

saying consumer confidence remains severe but showed signs of recovering.

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

consumer confidence, rose 3.3 points to 32.8 after rising 2.5 points to 29.5 in

May.

     --The share of respondents projecting consumer price gains fell to 71.5% in

June, after rising 1.6 points to 72.3% in May. The share of respondents

forecasting lower prices fell to 11.0 in June from 11.1% in May.

     --May's index rebounded from April's 21.6, which was the lowest level since

April 2004 when the survey began being released on a monthly basis.

--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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