MNI DATA IMPACT: Japan Consumer Confidence Rebounds In May

--Japan May Consumer Confidence Index 24.0 Vs April 21.6 

--Japan Govt Ups View: Remains Severe But Sign Stopped Falling

     TOKYO (MNI) - Japan's May consumer confidence index stood at a seasonally

adjusted 24.0, up from 21.6 in April, edging higher for the first time in five

months, the latest Consumer Confidence Survey published by the Cabinet Office

showed Friday.

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

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

     --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 having stopped

falling.

     The previous view was "worsening rapidly."

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

consumer confidence, rose 2.5 points to 29.5 after falling 5.4 points to 27.0 in

April.

     --The share of respondents projecting consumer price gains rose to 72.3% in

May, after rising 0.4 to 70.7% in April. The share of respondents forecasting

lower prices rose to 11.1 in May from 10.8% in April.

--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

[TOPICS: MAJDS$,M$A$$$,M$J$$$]