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Financial News: Japan Consumer Confidence Weakens To 7-Month Low

Japan Consumer Confidence Weakens To 7-Month Low

05/29/2024 - 02:40:00 (RTTNews)

(RTTNews) - Japan's consumer sentiment decreased more-than-expected in May to the lowest level in seven months, data from the Cabinet Office showed on Wednesday.

The seasonally adjusted consumer confidence index dropped to 36.2 in May from 38.3 in April. Meanwhile, economists had forecast the index to rise to 38.9.

Further, this was the lowest score since October 2023, when it was 35.9.

The latest survey was conducted on May 15 among 8,400 households.

All sub-indices registered decreases in May, the survey said.

The indicator measuring overall livelihood declined by 2.2 points to 33.9, and that for employment also fell by 2.2 points to 42.0.

The index reflecting households' willingness to buy durable consumer goods worsened to 29.0 from 31.8, and the index for income growth slid by 1.2 points to 39.9.

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