FX.co ★ Japan Consumer Confidence Weakens To 7-Month Low

Japan's consumer sentiment fell more sharply than anticipated in May, reaching its lowest level in seven months, according to data released by the Cabinet Office on Wednesday.

The seasonally adjusted consumer confidence index declined to 36.2 in May, down from 38.3 in April, whereas economists had predicted an increase to 38.9.

This marks the lowest score since October 2023, when the index stood at 35.9.

The most recent survey, conducted on May 15, polled 8,400 households.

All sub-indices saw a downturn in May, the survey revealed.

The indicator for overall livelihood dropped by 2.2 points to 33.9, while the employment index also decreased by 2.2 points to 42.0.

Moreover, the index measuring households' willingness to purchase durable consumer goods deteriorated to 29.0 from 31.8, and the income growth index fell by 1.2 points to 39.9.