MNI DATA IMPACT: Japan Aug Sentiment Up On Retail, Housing

Japan's current sentiment index rose for the fourth straight month in August, boosted by a pick-up in the sectors linked to housing and retail, a key government survey released Tuesday showed.

The survey indicates whether respondents with jobs most sensitive to economic conditions -- 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.

These are the key points from the latest Economy Watchers Survey, conducted by the Cabinet Office between August 25 and August 31 after the recent surge in Covid-19 infections peaked.

The Economy Watchers sentiment index for Japan's current economic climate rose 2.8 points to 43.9 in August a seasonally adjusted basis, after rising 2.3 points to 41.1 in July. The August Watchers outlook index for two to three months ahead showed a first rise in two months, up 6.4 points to 42.4 after falling 8.0 points to 36.0 previously.

The August Watchers outlook index for two to three months ahead showed a first rise in two months, up 6.4 points to 42.4 after falling 8.0 points to 36.0 in July. Restaurants and retailers were among the hardest-hit businesses in the poll, which targeted roughly 2,000 people, including store managers and taxi drivers.

The Cabinet Office upgraded its overall economic assessment based on the Economy Watchers Survey, saying, "Severity caused by the coronavirus continues but recovery move is observed. Looking ahead, concern over developments of infectious disease continues but recovery move is expected."