Japan’s Consumer Sentiment Stays Near Record Low on Job Cuts

Japan’s consumer sentiment stayed near its lowest level in at least 26 years in January, indicating households are likely to keep cutting spending.

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The confidence index rose to 26.4 last month from 26.2 in December, the lowest since the government began compiling the figures in 1982, the Cabinet Office said today in Tokyo. The worst deterioration in job prospects in four decades is prompting consumers in the world’s second-largest economy to cut spending. Japan’s recession may be the worst in 50 years, the Bank of Japan’s chief economist said yesterday...more

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