2010.07.0708:35:00UTC+00BoJ Survey: Consumer Sentiment Improves In Q2

Japan's consumer confidence rose for a fifth straight quarter in the April-June period, a quarterly survey by the Bank of Japan revealed Wednesday.

The consumer sentiment diffusion index rose 20.8 points from the first quarter to log minus 41.2 in the second quarter. The reading was minus 62 in the January-March period. The index had hit a record low of 88.9 in the first quarter of 2009.

The BoJ said the percentage of households who said their income dropped from a year earlier stood at 51.1%, down from 56.7% in the previous survey. The percentage of households expecting a fall in their income in next one year eased in the second quarter, to 35.1% from 40.2% seen in the previous survey.

The latest survey showed that the severity in employment and income situations have eased in the country and households are confident about the gradual economic recovery.

In June, monthly survey conducted by the Japanese Cabinet Office revealed that consumer confidence climbed to a 31-month high in May, despite increasing global concerns over the European debt crisis. The headline consumer confidence index improved to 42.8 in May from 42 in April.

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