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Business & Finance

Japan's Dec consumer confidence worsens, govt cuts view

  • The outlook for consumer sentiment is clouded as the government is expected to declare a renewed state of emergency over the coronavirus for the Greater Tokyo metropolitan area this week.
Published January 6, 2021
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TOKYO: Japan's consumer confidence worsened for the first time in four months in December and the government cut its view on the data as coronavirus infections climb.

The outlook for consumer sentiment is clouded as the government is expected to declare a renewed state of emergency over the coronavirus for the Greater Tokyo metropolitan area this week.

The survey's sentiment index for general households, which includes views on incomes and jobs, fell to 31.8 in December, versus 33.7 in November.

The government downgraded its assessment on the consumer sentiment index saying it was stalling. Previously, Japan said the index was picking up but it remained severe.

Tokyo's new daily coronavirus cases hit a fresh record of 1,591 on Wednesday, Kyodo news agency reported.

Analysts say an emergency declaration in the Tokyo area and fresh restrictions could trigger a economic contraction in the first quarter this year.

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