Ouch! Consumer Confidence at 32 Month Low

September 13, 2007
By Ken Worsley

This one pretty much speaks for itself: Yesterday, the Cabinet Office announced that Japan’s consumer confidence level had dropped to its lowest level since December 2004. You might remember that two months ago, we published a piece with the headline Cabinet Office: Consumer Confidence Down to Lowest Level Since December 2004.

The overall index dropped from 44.4 points to 44, which shows a fairly strong degree of pessimism. Here’s a comparison to last month:

Consumer Confidence Index: 44.0 (-0.4)
Overall Livelihood: 41.9 (-0.4)
Income Growth: 42.4 (+0.5)
Employment: 47.0 (-0.5)
Willingness to buy durable goods: 44.7 (-1.3)

We must note that the scores for employment and willingness to buy durable goods appear to be in (relative) free fall. In June, employment was at 49, and we had reasons to believe conditions could be on the way to improvement. Those hopes now appear lost, at least for the time being.

Filed Under Cabinet Office, Consumer Confidence Index, Economic Reports, Japan

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