Japan consumer confidence reaches 4-year maximum on stocks

Japan consumer confidence reaches 4-year maximum on stocks

In November, Japanese consumer confidence soared to its highest value in four years, underpinned by surging stock prices as well as a firm job market, as the Cabinet Office informed on Monday.

The sentiment index for general households, including views on incomes and jobs, edged up 0.4 point versus the previous month reaching 44.9, gaining for a third straight month and also marking the highest outcome since September 2013.

The poll contributed to positive signals surrounding consumer sentiment and service-sector business confidence hit a 3-1/2-year maximum the previous month.

Japan's economy is actually facing the longest expansion for 16 years, although in July-September private consumption went down for the first time for seven quarters, hinting at the necessity for a tight job market to generate higher salaries.

In October, Japan's unemployment rate stood still, sticking to a 23-year minimum of 2.8% and the availability of jobs hit the highest value in 44 years.

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