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Free AccessMNI China Daily Summary: Friday, September 15
US$ Credit Supply Pipeline
MNI BRIEF: Japan May Outlook Index Falls, Sentiment Gains
Japan's sentiment index's posted its fourth straight rise in May to a seasonally adjusted 55 from April's 54.6, while the the two-three month outlook index fell 1.3 points to 54.4, its first drop in six months, according to the the Cabinet Office's Economy Watchers' report published Thursday.
The government upgraded its assessment of the economy based following the publication for the first time in two months, noting, “the economy is recovering moderately. Looking ahead, there is hope for a continuous moderate recovery, although there are concerns over the impact of high prices.” The Government's previous view held that the economy was rebounding.
The negative outlook index print will muddy expectations on spending and the Bank of Japan’s view that private consumption has increased moderately despite price rises. A Cabinet Office official said the Government’s approval of the rise of electricity charges from June was behind the outlook index fall.
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