MNI DATA IMPACT: Japan Oct Sentiment Up On Hospitality Sector

Japan's sentiment index rose for a sixth straight month in October, boosted by a pick-up in hospitality and retail sales, a key government survey released Tuesday showed.

The latest Economy Watchers sentiment index rose a seasonally adjusted 5.2 points to 54.5 in October from 49.3 in September.

The outlook index for two to three months ahead rose 0.8 point to 49.1 from 48.3.

The survey, conducted by the Cabinet Office between Oct. 25 and Oct. 31, indicates whether respondents with jobs especially sensitive to economic conditions, such as 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.

Restaurants and retailers remain the hardest-hit businesses according to 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, noting sentiment is recovering, although the severe conditions caused by the pandemic remain.