Consumer sentiment reaches highest level in 4 years in Oct.

November 3, 2017

TOKYO- Consumer sentiment in Japan in October hits a four-year high, a Cabinet Office survey showed Thursday.

The seasonally adjusted consumer confidence index rose 0.6 point from the previous month to 44.5, the highest level since September 2013. The index went up for the second straight month, according to the survey, which covered households with at least two members each.

In October, consumer sentiment improved on the back of higher stock prices and strong readings of economic indicators, including employment.

The Cabinet Office said the sentiment is picking up, upgrading its basic assessment for the first time in seven months. In September, it said the index stayed almost flat.

All four sub-indexes, on overall livelihood, income growth, employment and willingness to buy durable goods, improved.

The survey also showed the proportion of households expecting prices to be higher a year later went up 1.3 percentage points to 77.5 percent.

The government agency said the result was due to markups for goods and services commonly used by households, such as gasoline and parcel deliveries. Jiji Press