Japan’s consumer confidence index rises in December to highest level in over three years

Japan’s consumer confidence index rose more than market expectations in December. The survey data from Japan’s Cabinet Office showed that the country’s consumer confidence strengthened to the highest level in over three years in December. The index rose 2.2 points to 43.1 in December from 40.9 in November. Consensus expectations were for the index to rise to 41.3.

The overall livelihood index rose 1.9 points from November to 42 in December, while the income growth index rose 1.5 points to 41.9. The employment index also improved to 45.7 from 42.5, while the willingness to purchase durable goods index rose 2.3 points from 40.5 in November to 42.8 in December.

Meanwhile, the percentage of a group that expect prices to rise in December was 74.2 percent, the same as in the prior month, whereas the ratio of a group expecting prices to “stay the same about 0 percent” in December was 17.2 percent, a rise of 1.4 percentage points from November. Lastly the percentage of a group expected prices to decline in December came in at 5.5 percent, a fall of 1.2 percentage points from November.

At 06:00 GMT the FxWirePro's Hourly Strength Index of Japanese yen was slightly bullish at 52.1905, while the FxWirePro's Hourly Strength Index of US Dollar was slightly bearish at -69.4662. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex