Japan Consumer Confidence Index In September Posts First Gain In 4 Months; Beats Expectations

Japan's consumer confidence index jumped up to 45.4 in September from 43.0 in August, figures released by the Cabinet Office showed Thursday, beating analysts' estimates of a 43.6 reading.

The index posted its first gain in four months signaling that the ultra-loose monetary measures implemented by the government and the central bank to extricate the economy from a decade-long depression, are having the desired effect on consumer confidence.

The seasonally-adjusted consumer confidence index, excluding one-person households, indicated that Japanese families were slightly more optimistic about their income and job prospects in September than they were in the previous month. The income growth sub-index edged up to 40.6 in September from 40.2 in August, the data showed.

The sub-index of overall livelihood confidence improved to 42.4 in September, up from 40.7 in the previous month, while households' willingness to buy durable goods also improved significantly as depicted by the corresponding sub-index, which rose to 47 in September from 44.3 in the previous month.

Employees too were upbeat about employment conditions, with the relevant indicator increasing to 51.7 from 46.9 a month earlier, the data showed. A reading below 50 suggests pessimism.