Japan Consumer Confidence

Data Sentiment

Source: Japan Cabinet Office
Source Link: https://www.esri.cao.go.jp/
Frequency: Monthly
Next Release(s): August 29th, 2025 12:00 AM

Latest Updates

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.
Japan’s Consumer Confidence Index edged down -0.2 pts to 36.3 in December, below forecasts of a 36.6 reading.
- There was not much movement in the sub components: income growth remained at 40.2, overall livelihood fell -0.2 pts to 34.1, employment ticked up 0.2 pts to 41.2, and the largest move in willingness to buy durable goods was an 0.5 pt increase to 29.4.
- In general, Japanese consumer perceptions are low relative to how they ended 2023 but not as bad as the pandemic or the post-pandemic supply chain crisis.
- Japanese consumer price expectations remain high with 93.7% of respondents saying they see prices increasing in the next year, up 0.5 ppts from November.