Japan: Consumer sentiment falls further in May
The consumer confidence survey fell to 34.1 in May, down from the 34.7 reading in April. As a result, the index remained below the 50-threshold, and indicated pessimism among consumers.
The overall deterioration reflected a broad-based fall in sentiment: Consumers became more pessimistic regarding overall livelihood, income growth and employment opportunities in the coming six months, although willingness to buy durable goods remained unchanged in May compared with the prior month’s survey.