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ECONOMY > Economic Indicators

Japan consumer confidence hits worst level ever

  • April 30, 2020
  • , Jiji Press , 6:31 p.m.
  • English Press

Tokyo, April 30 (Jiji Press)–Consumer confidence in Japan deteriorated to its worst level ever in April, hit by the coronavirus pandemic, a Cabinet Office survey showed Thursday.

 

The consumer confidence index, gauging the outlook on living conditions over the next six months, fell 9.3 points in April from the previous month to 21.6 after seasonal adjustment, according to the survey covering households of two or more members.

 

The reading was below the 27.5 marked in January 2009 during the global financial crisis.

 

The Cabinet Office lowered its view on consumer confidence, saying it is deteriorating rapidly, a wording that has never been used for the survey. In March, the agency said consumer confidence was deteriorating.

 

“Sentiment was dampened by stay-at-home and business closure requests, which fueled anxiety about restrained economic activity and concerns about employment,” a Cabinet Office official said.

 

All four component indexes–overall livelihood, income growth, employment and willingness to buy durable goods–hit record lows. Of the four, the employment index logged the biggest fall, dropping 12.9 points.

 

 

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