Japan Consumer Morale Highest in 21 Months

Japan’s consumer confidence index increased to 37.9 in January 2026 from 37.2 in December, but remained slightly below market forecasts of 38. It marked the highest reading since April 2024, as all components strengthened: overall livelihood (36.8 vs 35.9 in December 2025), employment outlook (42.4 vs 41.5), willingness to buy durable goods (30.4 vs 30.2), and income growth (42.0 vs 41.3).

Japan’s consumer confidence index declined to 37.2 in December 2025 from 37.5 in November, which was the highest level in 19 months and below market forecasts of 37.8. The decline came as most components weakened: overall livelihood (35.9 vs 36.2 in November), employment outlook (41.5 vs 41.7), and willingness to buy durable goods (30.2 vs 30.9). In contrast, consumers' views on income growth improved to 41.3 from 41.0 in the previous month.

Japan’s consumer confidence index rose to 37.5 in November 2025 from 35.8 in October, surpassing market forecasts of 35.9. This marked the highest reading since April 2024, with all components improving: overall livelihood (36.2 vs 34.3 in October), income growth (41.0 vs 40.0), employment outlook (41.7 vs 40.1), and willingness to buy durable goods (30.9 vs 28.9).