16 May 2006, 10:03  Japan April consumer confidence index highest since June 1990

The consumer confidence index improved to 50.0 in April from 47.9 in March, rising for the first time in two months to its highest in nearly 16 years, the Cabinet Office said. It was the best level for the index since June 1990 when it stood at 50.3, the government said. The consumer confidence index is based on replies to a survey asking about four aspects of consumer sentiment: perception of general economic well-being, income growth, employment conditions and willingness to purchase durable goods. Respondents are asked if there has been improvement in these areas compared to three months earlier. Numbers above 50 mean that respondents reporting improvement outnumber those seeing deterioration. Figures below 50 mean the majority believe conditions have worsened. The sub-index for general economic well-being rose to 47.0 from 45.1 in March, while the income growth sub-index increased to 46.2 from 43.5. The employment conditions sub-index improved to 55.2 from 52.9, and the sub-index for willingness to buy durable goods edged up to 51.6 from 50.0.

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