Financial News: Japan Eco Watchers Current Index Strongest In 8

Japan Eco Watchers Current Index Strongest In 8 Months, Outlook Brightens

03/08/2023 - 03:27:00 (RTTNews)

(RTTNews) - A measure of the public assessment of the current situation of the Japanese economy strengthened in February to reach its highest level in eight months, survey data from the Cabinet Office showed on Wednesday.

The current conditions index of the Economy Watchers' Survey, which measures the present situation of the economy, climbed to 52.0 in February from 48.5 in January. Economists had forecast the index to rise to 49.1.

A reading above 50 indicates optimism.

The increase in the index was mainly driven by gains in household activity-related measures, especially in the food and beverage segment and services.

The outlook index that signals future activity improved to a 9-month high of 50.8 in February from 49.3 in the previous month.

Last week, official data showed that consumer confidence hit a six-month high in February.

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