MNI BRIEF: Japan May Sentiment and Outlook Indexes Rise

The Japanese sentiment index posted a third straight rise in May while the outlook index posted a fourth increase as the government raised its assessments from the previous month, according to the Economy Watchers data released by the Cabinet Office on Wednesday.

The Economy Watchers sentiment index for the current economic climate rose a seasonally adjusted 3.6 points to 54.0 in May from 50.4 in April.

The government responded with a statement saying the "economy is recovering moderately".

"Looking ahead, a moderate recovery is expected to continue. But there are concerns over high costs, including the impact of Ukraine’s situation and of lockdowns in China," the statement said.

Meanwhile, the outlook index for the next two to three months rose 2.2 points to 52.5 from 50.3 in April.

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.

It was conducted by the Cabinet Office between May 25 and May 30 when the number of infections had fallen sharply, and targeted around 2,000 people in sensitive jobs.