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Monday, 9th July 2012
In Business In Japan,

Japanese consumer sentiment hits 5-year peak

Consumer confidence in Japan hit a five-year peak for the period between April and June, according to new data.

The Bank of Japan recently revealed the consumer sentiment index reached minus 39.5 during the quarter, down from minus 55.6 in the previous period ending in March.

That represents the third-consecutive improvement in the index, reaching its best result since September 2007.

To gauge consumer sentiment, the index subtracts the percentage of people who say economic conditions have worsened over the last year from those who say they have improved.

Around 7.5 per cent of respondents said they believed their families' income had increased from a year earlier, compared to 6.7 per cent for the previous quarter.

There was also improved confidence among Japanese business for the period, with the latest tankan manufacturers' sentiment index rising to minus one, up from minus four at the end of March.

For the first three months of the year, Japan's economy grew ahead of expectations by 1.2 per cent.

Posted by Mark Smith