MNI BRIEF: Japan July Sentiment Index, Outlook Index Rise

Japan's sentiment and outlook indices posted their second straight rise, supporting the view that higher nominal wages boosted consumer sentiment and will strengthen spending, the Economy Watchers report released by the Cabinet Office showed Thursday.

The Economy Watchers sentiment index for the current economic climate stood at a seasonally adjusted 47.5 in July, up from 47.0 in June, while the outlook index for two to three months ahead rose 0.4 points to 48.3 in July from 47.9 in June.

The indexes linked to households and businesses rose but the index linked to labour market fell.

The government left its assessment, noting the economy is recovering moderately "as a trend but weakness is observed. Looking ahead, a moderate economic recovery is likely to continue, although there is concern over the impact of high prices.”