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MNI BRIEF: Japan May Outlook Index Falls, Sentiment Gains

(MNI) Tokyo

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.

The survey indicates whether respondents with jobs most sensitive to economic conditions, including taxi and truck drivers, department-store sales staff and restaurant and shop owners, think economic conditions have improved or worsened over the last three months. The Cabinet Office conducted the survey between May 25-30 and targeted roughly 2,000 people.
MNI Tokyo Bureau | +81 90-2175-0040 |
MNI Tokyo Bureau | +81 90-2175-0040 |

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