Consumer confidence in Japan falls to the weakest since December 2011

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Source: RTT News
According to the Cabinet Office, consumer confidence in Japan fell marginally from 39.7 in the previous month to 39.4 in November, the weakest level since December 2011. The confidence index for employment dropped to 36.8 in November from 37.2 in October, and the gauge for consumers' willingness to purchase durable goods fell to 41.4 from 41.8. 

"It's likely that Japan's economy hit bottom in the last quarter," said Shuichi Obata, Economist at Nomura Securities. "The new government will aim to have solid growth by the middle of next year as they have to decide whether to raise the sales tax or not."
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