Japan's consumer sentiment improved in May for the fifth straight month as an economic recovery helped ease concern over employment prospects, government data showed Thursday.
The index of confidence among households made up of two or more people rose by 0.8 point from the previous month to 42.8, the highest reading since October 2007 when it matched that figure, the Cabinet Office said in its monthly survey.
Despite the continued improvement, the sentiment index remained below the threshold of 50, indicating that pessimists outnumbered optimists. The office left its assessment of the country's consumer confidence unchanged, saying it "has continued improving."
Three of the four components marked increases. Employment gained 1.8 points to an index reading of 40.1, income growth grew 0.7 point to 41.1, and livelihoods went up 0.6 point to 43.0.
But willingness to buy durable goods fell 0.1 point to 46.9, marking the first drop in six months following a revision made to the government incentive program for the purchase of environment-friendly consumer appliances in April.
The survey also showed that more people expected prices to rise, but Tsumura said this does not immediately change the government's view that the nation is mired in deflation.
The percentage of respondents expecting rises in prices over the coming year surged by 6.8 percentage points from the previous month to 46.0. The percentage of those forecasting falls fell by 3.2 points to 13.1.
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