Consumer sentiment 11 months in a row before tax increase August 29 15:49
The “Consumer Attitude Index”, which shows consumers' willingness to shop, has been lower than the previous month this month, and has deteriorated for 11 consecutive months. The Cabinet Office believes that consumer sentiment has weakened in October due to the increase in the consumption tax rate.
The Cabinet Office will ask 8400 households nationwide about their future lifestyle and willingness to shop, and publish the results as a “Consumer Attitude Index”. This month's index was 37.1 for two or more households, a decrease of 0.7 points from the previous month, worsening for 11 consecutive months.
In particular, there is a noticeable decline in the index indicating the willingness to buy durable consumer goods such as home appliances and automobiles, and the index indicating the outlook for living in the future.
The Cabinet Office says, “Statistics were moving in the same way just before the consumption tax rate was raised five years ago. We have determined that consumer sentiment this month has weakened.”