Retail

Japan's consumer confidence sees uplift in December 2023

05 Jan '24

1 min read

Pic: Adobe Stock

Insights

In December 2023, Japan's consumer confidence index rose to 37.2.
Gains were seen across all consumer perception indices: overall livelihood (up 1.6 points to 35.7), income growth (up 0.8 to 39.6), employment (up 0.6 to 41.9), and willingness to buy durable goods (up 1.3 to 31.4).
Price rise expectations decreased slightly to 90.8 per cent.

Japan's consumer confidence index witnessed a notable increase in December 2023, reaching 37.2, a rise of 1.1 points from the previous month, according to the Cabinet Office. This improvement indicates a positive shift in consumer sentiment in various key areas.

The consumer perception indices, which form part of the consumer confidence index, showed gains across all categories. The index for overall livelihood rose by 1.6 points to 35.7. There was a 0.8-point increase in income growth expectations, bringing it to 39.6. Employment confidence also saw an uptick, with a 0.6-point rise to 41.9. Notably, willingness to purchase durable goods experienced a significant increase, jumping 1.3 points to 31.4.

In terms of price expectations for the coming year, there was a mixed response from the public. The proportion of individuals anticipating price rises in December decreased slightly by 0.8 percentage points to 90.8 per cent. Conversely, those expecting prices to stay the same increased by 0.9 percentage points, reaching 4.3 per cent. The percentage of people expecting prices to go down saw a marginal decline of 0.2 percentage points, standing at 2.6 per cent, as per the Cabinet Office.

Fibre2Fashion News Desk (DP)

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