Japan's consumer confidence worsens in March | NHK WORLD-JAPAN News
A government survey shows Japan's consumer confidence worsened in March for the first time in three months. Analysts lay the blame on soaring crude oil prices. The Consumer Confidence Index for households of two or more people came to 33.3, down 6.4 points from February.
The Cabinet Office asked 8,400 households nationwide about their views on livelihoods over the next six months, including spending plans and employment. Willingness to buy durables such as vehicles fell 7.7 points from the previous month, while confidence about employment dropped 5.7 points.
Analysts believe concerns over spiking oil prices are behind the survey results. The Cabinet Office downgraded its basic assessment of consumer sentiment from "showing signs of improvement" to "weakening."