Japan Consumer Confidence

Info

History

Chart

Impact:

High

Source: Cabinet Office, Japan

Latest Release:

Date:

Surprise:

JPY

Actual:

32.8

Forecast: 31.8

Previous/Revision:

31.2

Period: May

Next Release:

Date:

Forecast: 33.5

Period: Jun

What Does It Measure?

The Japan Consumer Confidence Index (CCI) measures the degree of optimism that consumers feel regarding the overall state of the economy and their personal financial situation. This index primarily focuses on consumer attitudes toward current and future economic conditions, evaluating key indicators such as household expenditure, employment prospects, and inflation expectations, serving as a national indicator of consumer sentiment.

Frequency

The Consumer Confidence Index is released monthly, typically on the last business day of each month, and it is grounded in preliminary estimates, which may be revised in subsequent releases.

Why Do Traders Care?

Traders are particularly attentive to the CCI as it provides insight into consumer behavior that can influence economic growth; higher consumer confidence often correlates with increased spending and economic expansion, positively impacting equities and the currency. Conversely, lower readings may indicate economic contraction, leading to bearish sentiments for both the Japanese Yen (JPY) and stock markets.

What Is It Derived From?

The CCI is derived from a survey conducted among households across Japan, asking participants about their perceptions of current economic conditions and their expectations for the future. The index is calculated using a diffusion index methodology, where responses are weighted to produce a single figure that reflects consumer sentiment.

Description

The Consumer Confidence Index in Japan is critical for assessing the economic health of the country, as it gauges consumer sentiment in a nation where household consumption is a key driver of GDP. It typically consists of questions related to consumers’ financial situation, employment outlook, and overall economic conditions, thus providing a comprehensive picture of consumer attitudes and behaviors.

Additional Notes

The Japan Consumer Confidence Index serves as a coincident economic measure, reflecting current economic conditions rather than predicting future changes; it often correlates with other indicators such as retail sales and GDP growth. Given Japan’s aging population and prolonged low-growth environment, shifts in consumer confidence can signal broader economic trends that are relevant not only locally but also in comparison to other developed economies.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for JPY, Bullish for Stocks. Lower than expected: Bearish for JPY, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
May 29, 2025	32.8	31.8	31.2	1
May 01, 2025	31.2	34	34.1	-2.8
Apr 09, 2025	34.1	34.7	34.8	-0.6
Mar 04, 2025	35	35.7	35.2	-0.7
Jan 29, 2025	35.2	36.6	36.2	-1.4
Jan 08, 2025	36.2	36.6	36.4	-0.4
Nov 29, 2024	36.4	36.4	36.2
Oct 30, 2024	36.2	37	36.9	-0.8
Oct 02, 2024	36.9	37.1	36.7	-0.2
Aug 29, 2024	36.7	36.9	36.7	-0.2
Jul 31, 2024	36.7	36.5	36.4	0.2
Jul 01, 2024	36.4	36.5	36.2	-0.1
May 29, 2024	36.2	38.9	38.3	-2.7
May 02, 2024	38.3	39.7	39.5	-1.4
Apr 09, 2024	39.5	39.7	39	-0.2
Mar 01, 2024	39.1	38.3	38	0.8
Jan 31, 2024	38	37.6	37.2	0.4
Jan 05, 2024	37.2	36	36.1	1.2
Nov 30, 2023	36.1	35.6	35.7	0.5
Oct 31, 2023	35.7	35.1	35.2	0.6
Sep 29, 2023	35.2	37	36.2	-1.8
Aug 30, 2023	36.2	37.5	37.1	-1.3
Jul 31, 2023	37.1	36.8	36.2	0.3
Jun 29, 2023	36.2	36.2	36
May 31, 2023	36	36.1	35.4	-0.1
May 01, 2023	35.4	32	33.9	3.4
Apr 10, 2023	33.9	31.9	31.1	2
Mar 02, 2023	31.1	32	31	-0.9
Jan 31, 2023	31	30.5	30.3	0.5
Jan 05, 2023	30.3	29	28.6	1.3
Dec 01, 2022	28.6	29.1	29.9	-0.5
Oct 31, 2022	29.9	30	30.8	-0.1
Sep 30, 2022	30.8	34	32.5	-3.2
Aug 31, 2022	32.5	31	30.2	1.5
Jul 29, 2022	30.2	33	32.1	-2.8
Jun 29, 2022	32.1	33	34.1	-0.9
May 31, 2022	34.1	33.5	33	0.6
May 02, 2022	33	31.7	32.8	1.3
Apr 08, 2022	32.8	34	35.3	-1.2
Mar 03, 2022	35.3	36	36.7	-0.7
Jan 31, 2022	36.7	39.5	39.1	-2.8
Jan 05, 2022	39.1	39.8	39.2	-0.7
Dec 02, 2021	39.2	40	39.2	-0.8
Oct 29, 2021	39.2	39	37.8	0.2
Oct 01, 2021	37.8	37	36.7	0.8
Aug 02, 2021	37.5	37	37.4	0.5
Jun 30, 2021	37.4	33	34.1	4.4
May 31, 2021	34.1	34	34.7	0.1
Apr 30, 2021	34.7	35.5	36.1	-0.8
Apr 08, 2021	36.1	36	33.8	0.1
Mar 04, 2021	33.8	30.8	29.6	3
Jan 29, 2021	29.6	31.2	31.8	-1.6
Jan 06, 2021	31.8	35	33.7	-3.2
Dec 02, 2020	33.7	33	33.6	0.7
Oct 29, 2020	33.6	34.8	32.7	-1.2
Oct 02, 2020	32.7	32	29.3	0.7
Aug 31, 2020	29.3	29	29.5	0.3
Jul 31, 2020	29.5	26	28.4	3.5
Jul 01, 2020	28.4	30	24	-1.6
May 29, 2020	24	25.1	21.6	-1.1
Apr 30, 2020	21.6	22.3	30.9	-0.7
Apr 06, 2020	30.9	36.8	38.4	-5.9
Mar 03, 2020	38.4	40.6	39.1	-2.2
Jan 29, 2020	39.1	40.8	39.1	-1.7
Jan 08, 2020	39.1	38	38.7	1.1
Nov 29, 2019	38.7	35.4	36.2	3.3
Oct 31, 2019	36.2	35.5	35.6	0.7
Oct 02, 2019	35.6	37.3	37.1	-1.7
Aug 29, 2019	37.1	37.6	37.8	-0.5
Jul 31, 2019	37.8	38.5	38.7	-0.7
Jul 01, 2019	38.7	39.2	39.4	-0.5
May 31, 2019	39.4	40.6	40.4	-1.2
May 09, 2019	40.4	40.3	40.5	0.1
Apr 08, 2019	40.5	42.3	41.5	-1.8
Mar 01, 2019	41.5	41.6	41.9	-0.1
Jan 30, 2019	41.9	42.5	42.7	-0.6
Jan 08, 2019	42.7	42	42.9	0.7
Nov 30, 2018	42.9	43.3	43	-0.4
Oct 31, 2018	43	43.5	43.4	-0.5
Oct 02, 2018	43.4	43	43.3	0.4
Aug 29, 2018	43.3	43.4	43.5	-0.1
Jul 31, 2018	43.5	43.9	43.7	-0.4
Jun 29, 2018	43.7	43.9	43.8	-0.2
May 30, 2018	43.8	43.9	43.6	-0.1
May 02, 2018	43.6	44.6	44.3	-1
Apr 09, 2018	44.3	44.6	44.3	-0.3
Mar 01, 2018	44.3	44.9	44.7	-0.6
Jan 31, 2018	44.7	44.9	44.7	-0.2
Jan 09, 2018	44.7	45.1	44.9	-0.4
Dec 04, 2017	44.9	44.8	44.5	0.1
Nov 02, 2017	44.5	43.6	43.9	0.9
Oct 03, 2017	43.9	43.5	43.3	0.4
Sep 01, 2017	43.3	43.7	43.8	-0.4
Aug 02, 2017	43.8	43.6	43.3	0.2
Jul 03, 2017	43.3	43.8	43.6	-0.5
Jun 02, 2017	43.6	43.6	43.2
May 08, 2017	43.2	44.1	43.9	-0.9
Apr 06, 2017	43.9	43.5	43.2	0.4
Mar 03, 2017	43.1	43.7	43.2	-0.6
Feb 02, 2017	43.2	43.7	43.1	-0.5
Jan 10, 2017	43.1	41.3	40.9	1.8
Dec 05, 2016	40.9	43.8	42.3	-2.9
Nov 02, 2016	42.3	42.8	43	-0.5
Oct 04, 2016	43	41.8	42	1.2
Sep 02, 2016	42	41.6	41.3	0.4
Aug 02, 2016	41.3	42.2	41.8	-0.9
Jul 01, 2016	41.8	41.76	40.9	0.04
Jun 02, 2016	40.9	40.4	40.8	0.5
May 09, 2016	40.8	41.66	41.7	-0.86
Apr 08, 2016	41.7	40.5	40.1	1.2
Mar 08, 2016	40.1	42.3	42.5	-2.2
Feb 03, 2016	42.5	43.8	42.7	-1.3
Jan 12, 2016	42.7	42.3	42.6	0.4
Dec 04, 2015	42.6	41.8	41.5	0.8
Nov 04, 2015	41.5	41.4	40.6	0.1
Oct 13, 2015	40.6	41.76	41.7	-1.16
Sep 09, 2015	41.7	40.22	40.3	1.48
Aug 10, 2015	40.3	41.43	41.7	-1.13
Jul 10, 2015	41.7	41.57	41.4	0.13
Jun 09, 2015	41.4	41.9	41.5	-0.5
May 15, 2015	41.5	41.9	41.7	-0.4