Japan’s consumer sentiment decreased unexpectedly in February to the lowest level in almost two years, survey data from the Cabinet Office showed on Tuesday.
The seasonally adjusted consumer confidence index weakened to 35.0 in February from 35.2 in January. Meanwhile, economists had forecast the index to rise to 35.7.
Further, the latest reading was the lowest since March 2023, when it was 33.7.
The latest survey was conducted on February 15 among 8,400 households.
The index for overall livelihood declined by 0.3 points to 31.9, and the sub-index for willingness to buy durable goods worsened to 27.2 from 27.5.
Data showed that the index reflecting employment increased slightly by 0.1 points to 41.1, while the income growth index fell to 39.7 from 39.9.
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