Asia

Thursday, August 29, 2019 - 01:47

MNI DATA IMPACT: Japan Consumer Conf Index Dn On Durable Buys


--Japan Aug Consumer Confidence Index 37.1 Vs July 37.8
--Japan Govt Keeps View: Consumer Confidence Weakening

TOKYO (MNI) - Japan's consumer confidence index fell 0.7 points to a seasonally adjusted 37.1 in August, the 11th straight monthly drop, the latest Consumer Confidence Survey released by the Cabinet Office showed Thursday.

The dip, which came after a 0.9 point fall to 37.8 in July, was caused mainly by weaker prospects for purchases of durable goods and living.

--The Cabinet Office left its assessment unchanged, saying consumer confidence was "weakening". The government in February lowered the assessment from January when it said that consumer confidence "showed weak moves."

--Consumers were more pessimistic on three out of the four key sentiment sectors; the next six months would be a good time to buy durable goods, overall economic well-being and purchases of durable goods.

--The sub-index on asset prices, which is not included in calculating overall consumer confidence, showed the first drop in two months, down 2.1 points to 38.8 after rising 1.6 points to 40.9 in the previous month.

--The survey also showed the public's inflation expectation for the next 12 months fell for the second straight month. The share of those projecting price gains fell to 87.0% in August, after falling 0.8 points to 87.1% in July. The share of respondents forecasting lower prices rose to 4.3% in August from 3.7% in August.

--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

[TOPICS: MAJDS$,M$A$$$,M$J$$$]

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