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Japan economy watchers sentiment worsens for 2nd month in April

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11 May 2024 07:05:40 GMT9
11 May 2024 07:05:40 GMT9

TOKYO: Sentiment among so-called economy watchers in Japan, or people in economy-sensitive jobs, worsened for the second consecutive month in April, according to a government survey.

The seasonally adjusted index on economy watchers’ sentiment about current economic conditions fell 2.4 points from the previous month to 47.4, the lowest since August 2022, when the effects of the COVID-19 pandemic still lingered, the survey by the Cabinet Office showed Friday.

Household and business sentiment deteriorated amid price rises caused by a weaker yen, with a pulp and paper manufacturer in the Tokai central Japan region saying, “Sharp increases in materials prices are serious.”

Based on the survey result, the government agency said that the economy has continued moderate recovery, though with weakness seen recently, downgrading its basic view for the first time in seven months since September 2023. Until the previous month, the view was that “the economy has continued moderate recovery, though with a pause seen.”

The index for economy watchers’ outlook for the economy two to three months ahead fell 2.7 points to 48.5, down for two straight months mainly due to the yen’s depreciation.

JIJI Press

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