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Free AccessJapan July Econ Watchers Sentiment Dips on Labor, Weather
--Japan July Economy Watchers S/A Current Index 49.7; June 50.0
--Japan July Watchers Current Index Posts 1st M/M Drop in 4 Months
--Japan July Watchers S/A Outlook Index 50.3; June 50.5
--Japan July Watchers Outlook Index Posts 1st M/M Drop in 4 Months
--Japan Govt Keeps View: Economic Pickup Continues
--Japan Govt: Capex Expected But Labor Shortages Concerned
TOKYO (MNI) - Results of the Cabinet Office's monthly Economy Watchers
Survey conducted between July 25 and July 31 were released Tuesday.
The survey indicates whether respondents with jobs most sensitive to
economic conditions -- taxi and truck drivers, department-store sales staff and
restaurant and shop owners -- think economic conditions have improved or
worsened from three months before.
* The Economy Watchers sentiment index for Japan's current economic climate
posted the first month-on-month drop in four months, down 0.3 point at 49.7 in
July on a seasonally adjusted basis after rising sharply by 1.4 points in June,
but the level remained relatively high in the current recovery phase.
* The slight drop in sentiment reflects the adverse effects of chronic
labor shortages and weather factors. Heavy rainfalls and flooding in southern
Japan in early July caused casualties and long-lasting damage while heat waves
made consumers wary of buying fresh food for fear of food poisoning. On the
other hand, high temperatures boosted demand for air conditioners.
* "Labor shortages are spreading throughout the economy," Cabinet Office
director of regional economies Masahiko Tsutsumi told reporters. "Staffing
agencies and want-ad publishers see labor shortages as positive while
construction, transportation and security firms are reporting lost business
opportunities."
* The Economy Watchers outlook index showed sentiment regarding the next
two to three months also marked the first month-on-month fall in four months,
down 0.2 point at 50.3 in July after a 0.9 point rise in June.
* The Cabinet Office maintained its overall economic assessment from the
previous month after updating it in its report for May, saying, "The pickup
continues."
* "Looking ahead, there are expectations for continued business investment,
although there are concerns over labor shortages," the government said,
repeating its assessment from the previous report.
* "The watchers' sentiment about capital investment has been rising
gradually but the report does not suggest a sharp increase," Tsutsumi said.
"Firms expect an increase in investment for raising production capacity or
coping with labor shortages. Some firms also see their clients increase capex."
--MNI Tokyo Bureau; tel: +81 90-4670-5309; email: max.sato@marketnews.com
[TOPICS: MAJDS$,M$A$$$,M$J$$$,MT$$$$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.