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Financial News: Japan Eco Watchers Current Conditions, Outlook Weaken Shar

Japan Eco Watchers Current Conditions, Outlook Weaken Sharply

05/13/2020 - 03:03:00 (RTTNews)

(RTTNews) - A measure of the public assessment of the Japanese economy declined sharply in April, as economic activity remained hurt by the coronavirus, or Covid-19, pandemic, survey data from the Cabinet Office showed on Wednesday.

The current conditions index of the Economy Watchers' Survey, which measures the current situation of the economy, decreased to 7.9 in April from 14.2 in March.

The outlook index that signals future activity fell to 16.6 in April from 18.8 in the previous month.

The economy watchers' point of view is that the situation is getting worse and expected to deteriorate further, due to the extremely severe challenges posed by the Covid-19 pandemic, the survey said.

Earlier in the day, data showed that the current account surplus was JPY 1971 billion in March versus JPY 3,168.8 billion in the previous month. Economists had forecast a surplus of JPY 2,211 billion.

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