Consumer confidence in Japan Fall
Posted by dian eko | Filed under economic update
ANTARA News. Japanese consumer confidence has deteriorated for the first time in 11 months due to concerns about job security and falling wages, the government said Friday.Consumer confidence index from the Cabinet Office declined to 39.5 in November, down 1.0 points from the previous month, as quoted by AFP. A number below 50 indicates that consumers are pessimistic than optimistic number. Index had risen a row during the nine months to September, when it reached almost the highest two-year 40.5 – Adjusted the level in October. Japanese economy returned to positive growth in the second quarter of this year after a year of severe prolonged recession.
But the government reported this week, that number two of the world economy grew at a rate far slower than previously thought in the third quarter, reigniting fears that the recovery of the young could be disrupted. The Japanese government announced Tuesday, r new economic stimulus package of 274 billion dollars, including 80 billion dollars in new spending, which analysts say should help to support consumer confidence. “Because the trend is consumer sentiment has been affected by government stimulus package, we can expect the same this time too,” said Yoshiro Sato, economist at Calyon Capital Markets Asia.
But until the new package approved by parliament and fully implemented, “there is the possibility that consumer sentiment may continue to fall”, Sato added.
February 5, 2010 at 5:04 am
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