Japan's consumer confidence grows for 5th straight month in May

15:57, June 10, 2010      

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Japan's consumer sentiment improved in May for the fifth straight month, the Cabinet Office said in a monthly report on Thursday.

The confidence index among households comprised of two or more people climbed to 42.8, up 0.8 points from a reading of from 42 in April, the report showed. And the 0.8 point rise matched economists' expectations.

Within the households' sentiment index, the gauge for overall livelihood rose to 43 in May from 42.4 and income growth stood at 41.1, up from 40.4 in April.

The indicator for employment moved up to 40.1 from 38.3 in April, however consumers' willingness to buy durable goods fell to 46.9 from 47.

The Cabinet Office maintained its overall assessment of the country's consumer sentiment in the recording period as " continuing to improve."

The confidence index is calculated based on whether consumers expect the economy to "improve", "improve somewhat", "remain unchanged", "deteriorate somewhat" or "deteriorate" over the coming six months.

The Cabinet Office's monthly consumer confidence survey asks a total of 6,720 households across Japan their feeling towards spending money and the economy in general.

The results of the survey enable the government to gain a quick understanding of shifts in consumer perception as a tool to evaluate economic trends.



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