MNI BRIEF: Japan June Sentiment Index, Outlook Index Both Rise
Japan's June sentiment index and the outlook index for two to three months ahead both rose for the first time in four months, easing concern over weaker private consumption, the Economy Watchers' survey released by the Cabinet Office showed Monday.
The Economy Watchers sentiment index for the current economic climate stood at a seasonally adjusted at 47.0 in June, up from 45.7 in May, while the outlook index for two to three months ahead rose 1.6 points to 47.9 from 46.3.
A tourism boost contributed to improving the sentiment but high prices caused by the weak yen played a role of lowering the sentiment, indicating the balance will move toward a favorable phase, an official at the Cabinet Office told reporters, although he said it is premature to say that sentiment has bottomed and the government must examine whether the sentiment rises again next month. The government left its assessment, noting a moderate recovery "as a trend" but downside risks exist.