Japan Feb. consumer confidence 40.0; est. 38.2

Japan Feb. consumer confidence 40.0; est. 38.2

Japan’s Consumer Confidence Rises to 40.2 in February 2024, Surpassing Estimates

Japan’s consumer confidence index reached 40.2 in February 2024, according to the Ipsos Global Consumer Confidence Index, marking the highest level since January 2022. This reading exceeded expectations of 38.2 and reflects a notable recovery in consumer sentiment following two consecutive monthly gains. The index, which measures perceptions of the economic climate, employment, and investment, highlights improved optimism despite broader global economic uncertainties.

Globally, consumer confidence remained stable at 49.1 in February 2024, with mixed trends across regions. While G7 nations experienced declines—Great Britain (-3.2), Canada (-2.1), and Germany (-2.0)—Japan’s 2.4-point increase stood out as a bright spot. The Asia-Pacific region also saw significant gains, with South Korea (+3.7) and India (+2.9) joining Japan in boosting regional confidence.

Domestically, Japan’s improvement aligns with modest gains in income growth expectations and employment outlooks, though willingness to purchase durable goods remains subdued. The Ipsos data contrasts with more recent Trading Economics figures, which reported a decline in Japan’s consumer confidence to 37.2 in December 2025, reflecting ongoing volatility in consumer sentiment.

The February 2024 uptick underscores Japan’s resilience amid global headwinds, though challenges such as inflation and labor market pressures persist. Investors and policymakers will closely monitor future data to assess the sustainability of this recovery.

Key Regional Trends - Asia-Pacific: South Korea (+3.7) and India (+2.9) drove regional gains. - Europe: Sweden (+3.3) and the Netherlands (+2.3) saw significant improvements, while Hungary (-3.4) and Belgium (-2.7) declined. - G7: Japan’s 40.2 score contrasted with declines in the U.K., Canada, and Germany.

The Ipsos survey, conducted between January 26 and February 9, 2024, included over 21,000 adults across 29 countries, providing a broad snapshot of global consumer sentiment.

According to the Ipsos Global Consumer Confidence Index, February 2024: Ipsos Global Consumer Confidence Index, February 2024. Trading Economics, Japan Consumer Confidence, December 2025: Trading Economics, Japan Consumer Confidence, December 2025.

Word count: 300