Consumer sentiment in Japan hit its highest level in 12 years and eight months in May, showing that the export-led economic recovery is being noticed by consumers, according to a government survey released Friday.
The Cabinet Office said the unadjusted consumer confidence index for households nationwide, excluding single-person households, rose 2.9 points from April to 48.3, marking the highest reading since it reached 48.5 in September 1991.
The index is calculated by assigning points on the basis of whether consumers believe their sentiment in the four categories of employment, overall livelihood, income growth and inclination to purchase durable goods will, in the coming six months, improve, improve somewhat, remain unchanged, deteriorate somewhat or deteriorate.