Japanese consumer confidence rose to its highest level since 1991, according to seasonally adjusted numbers released on Monday, underlining a growing conviction among the public that the economy had escaped 15 years of post-bubble hardships.

A cabinet office survey of consumer confidence, seasonally adjusted on a quarterly basis, rose to 48.2 in March from 47.9 in December. That is not too far below the 50.8 peak at the height of the Japanese bubble in 1988, when many consumers were convinced the good times were set to roll indefinitely.