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Financial News: Japan Consumer Confidence Highest In 7 Months

Japan Consumer Confidence Highest In 7 Months

01/08/2020 - 01:23:00 (RTTNews)

(RTTNews) - Japan's consumer confidence rose to its highest level in seven months in December, data from the Cabinet Office showed on Wednesday.

The consumer confidence index rose to a seasonally adjusted 39.1 in December from 38.7 in November. Economists had expected a score of 39.5.

The latest reading was the highest since May, when it was 39.4.

Consumer confidence edged up in December, suggesting that consumption continues to recover from the slump after October's sales tax hike, Marcel Thieliant, an economist at Capital Economics, said.

Among the four sub-indexes of the consumer confidence index, the index reflecting households' inclination to buy durable consumer goods rose to 36.6 in December, and the index for income growth increased to 40.2.

The indicators measuring overall livelihood improved to 38.4, while the employment perception decreased to 41.3.

The latest survey was conducted on December 15 covering 8,400 households.

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