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In Japan consumer confidence worsened slightly in July. A Cabinet Office survey showed that the Consumer Confidence Index dropped to 43.3 from 43.5 a month earlier. The June figure was the strongest in nearly three years. A reading below 50 shows consumer pessimism.
The survey said the drop was because there was less certainty about overall economic well-being, in the coming months. But the index was still up 3.9 points in July from a year earlier. The sub-index for sentiment on overall economic well-being fell to 43.2 in July from 43.6 in June. That's the first drop in seven months.
The income growth sub-index also showed a slip. Inflation expectations remained relatively stable in July, as the ratio of people foreseeing higher prices rebounded. But the survey still said consumer confidence appears to be improving.
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