Japan Consumer Confidence

Data Sentiment

Source: Japan Cabinet Office
Source Link: https://www.esri.cao.go.jp/
Frequency: Monthly
Next Release(s): January 29th, 2026 1:00 AM

Latest Updates

Japan’s Consumer Confidence Index slipped to 37.2 in December (-0.3 pts MoM), indicating slightly weaker household sentiment at year-end.
- Overall livelihood declined to 35.9 (-0.3 pts MoM), pointing to a modest deterioration in perceptions of general living conditions.
- Income growth sentiment rose to 41.3 (+0.3 pts MoM), showing a small improvement in expectations for future earnings despite the softer headline index.
- Employment confidence edged down to 41.5 (-0.2 pts MoM), suggesting marginally weaker views on job prospects.
- Willingness to buy durable goods fell to 30.2 (-0.7 pts MoM), the largest decline among components and the weakest category in the index.
- Price expectations firmed, with 91.8% expecting prices to rise (+1.2 ppts MoM), while expectations for stable prices fell to 3.6% (-0.4 ppts) and expectations for price declines eased to 2.8% (-0.7 ppts), indicating increased inflation expectations.
Japan’s Consumer Confidence Index rose to 37.5 in November (+1.7 pts MoM), marking a broad improvement across all major sentiment categories.
- Overall livelihood increased to 36.2 (+1.9 pts MoM), indicating better perceptions of general living conditions.
- Income growth sentiment rose to 41.0 (+1.0 pt MoM), showing firmer expectations for future earnings.
- Employment confidence improved to 41.7 (+1.6 pts MoM), suggesting a more optimistic view of job prospects.
- Willingness to buy durable goods climbed to 30.9 (+2.0 pts MoM), the largest gain among components, though it remains the weakest category.
- Price expectations eased slightly, with 90.6% expecting prices to rise (-2.0 ppts MoM), while 4.0% expected stability (+0.8 ppts) and 3.5% expected declines (+1.3 ppts), indicating a modest reduction in inflation concerns.
Japan’s Consumer Confidence Index rose +0.5 pts to 35.8 in October 2025, marking a modest improvement with broad-based gains across all subcomponents.
- Overall livelihood increased +1.1 pts to 34.3, showing stronger sentiment toward household living conditions.
- Income growth perception rose +0.6 pts to 40.0, indicating slightly higher optimism about future earnings.
- Employment sentiment improved +0.2 pts to 40.1, suggesting stable confidence in job conditions.
- Willingness to buy durable goods edged up +0.1 pts to 28.9, remaining the weakest category but still improving marginally.
- Inflation expectations eased slightly, with 92.6% of respondents expecting prices to rise (down -0.8 ppts MoM), while 3.2% expected stability (+0.8 ppts) and 2.2% expected prices to fall (-0.1 ppt).
Japan’s Consumer Confidence Index rose +0.4 pts to 35.3 in September 2025, marking a modest improvement with gains in most components.
- Overall livelihood sentiment increased +0.5 pts to 33.2, indicating a slightly better household outlook.
- Income growth perception held steady at 39.4, showing no change from the previous month.
- Employment sentiment improved +0.6 pts to 39.9, pointing to firmer confidence in job conditions.
- Willingness to buy durable goods rose +0.8 pts to 28.8, though it remained the weakest category.
- Inflation expectations were unchanged, with 93.4% of households expecting prices to rise, while 2.3% expected declines (+0.6 ppt MoM).
Japan’s Consumer Confidence Index rose +1.2 pts to 34.9 in August 2025, marking a second month of improvement with gains across all major components.
- Overall livelihood sentiment increased +1.3 pts to 32.7, showing a modest rebound in household outlook.
- Income growth perception rose +0.9 pts to 39.4, while employment sentiment gained +1.7 pts to 39.3.
- Willingness to buy durable goods edged up +0.6 pts to 28.0, remaining the weakest category.
- Inflation expectations strengthened, with 93.4% of households expecting prices to rise (+1.0 ppt from July), while only 1.7% expect prices to fall.
Japan’s Consumer Confidence Index fell -0.8 pts to 33.7 in July 2025, reversing the rebound seen in prior months as sentiment weakened across all major categories.
- Willingness to buy durable goods declined -0.8 pts to 27.4, remaining the weakest component.
- Overall livelihood sentiment fell -1.0 pt to 31.4, and employment perception dropped -0.7 pts to 37.6.
- Income growth sentiment eased -0.4 pts to 38.5.
- Inflation expectations ticked up slightly, with 92.4% of households expecting prices to rise (+0.3 ppts from June).
Japan’s Consumer Confidence Index rose 1.7 pts to 34.5 in June 2025, rebounding for the second straight month but still at low levels historically.
- Willingness to buy durable goods saw the largest gain, rising 2.8 pts to 28.2.
- Overall livelihood sentiment rose 2.2 pts to 32.4, while employment sentiment increased 1.0 pt to 38.3.
- Perception of income growth edged up 0.6 pts to 38.9.
- Inflation expectations eased slightly, with 92.1% of households expecting prices to rise (-1.5 ppts from May).
Japan’s Consumer Confidence Index rose 1.6 pts to 32.8 in May 2025, rebounding from April’s decline but remaining at historically low levels.
- Overall livelihood sentiment rose 2.9 pts to 30.2, the largest monthly gain among components.
- Employment sentiment increased 1.6 pts to 37.3, while income growth perception edged up 0.8 pts to 38.3.
- Willingness to buy durable goods rose 1.2 pts to 25.4.
- Inflation expectations remain high, with 93.6% of households expecting prices to rise (+0.4 ppts from April).
Japan’s Consumer Confidence Index fell -2.9 pts to 31.2 in April, below expectations of the index remaining basically unchanged at 34 and the lowest since February 2023.
- Overall livelihood dropped -3.6 pts to 27.3, the weakest reading in over two years and the largest monthly decline since March 2022.
- Employment sentiment fell -3.5 pts to 35.7, the lowest since November 2022.
- Willingness to buy durable goods declined -3.1 pts to 24.2, the lowest since February 2023.
- Income growth perception slipped -1.3 pts to 37.5, the smallest drop among subcomponents.
- Inflation expectations remain high, with 93.2% of households expecting prices to rise, down -0.7 ppts from March.
Japanese consumer confidence fell -0.7 pts to 34.1 (vs 34.7 expected) in March, the lowest since February 2023 and the 4th straight monthly decline.
- The index tracking consumers' overall likelihood fell for the 7th straight month and was the lowest since April 2023 at 30.9.
- The employment index fell -1.7 pts to 39.2, the largest MoM decline in over two years and was the lowest since February 2023.
- Inflation expectations remains elevated. 93.9% of consumers expect prices to go up, up 0.6 ppts from the previous month.
Japan’s consumer confidence edges down -0.2 pts to 35.0 in February, below expectations of a slight increase to 35.7.
Japan’s consumer confidence indicator fell -1.0 pts to 35.2 in January, the lowest reading since April 2023 and below expectations of a slight rise to 36.6.
- All of the subcomponents fell with the largest declines in the overall livelihood index, down -1.9 pts to 32.2 (the lowest April 2023), and the willingness to buy durable goods index, down -1.9 pts to 27.5 (the lowest since March 2023).
- Inflation expectations remain elevated but backed down a bit. The percentage of consumers who expect prices to “go up” was 93.3% in January, a decrease of 0.4 ppts from the December reading.
- This measure has been above 90% since the end of 2021. This survey was conducted before the Bank of Japan’s rate hike on January 24th, so we have not seen the impact of that monetary policy change in this data.