Japan’s consumer confidence index declined to 37.2 in December 2025 from 37.5 in November, which was the highest level in 19 months and below market forecasts of 37.8. The decline came as most components weakened: overall livelihood (35.9 vs 36.2 in November), employment outlook (41.5 vs 41.7), and willingness to buy durable goods (30.2 vs 30.9). In contrast, consumers’ views on income growth improved to 41.3 from 41.0 in the previous month.