Japan's Cabinet Office reported on Wednesday that its Economy Watchers
Survey showed that an assessment of the current economic conditions worsened significantly
in July
According to the survey, the Economy Watchers’ index for current
conditions declined by 9.1 points to 43.8 in July (on a seasonally adjusted
basis). This marked the lowest reading since February (37.3). Assessments
worsened for all components of the headline index - household activity, corporate
activity, and employment.
Any reading above 50 indicates optimism and a reading below 50 suggests
pessimism.
Meanwhile, the Economy Watchers’ outlook index, an assessment of future
economic conditions, decreased by 4.8 points to 42.8 in July. This was the lowest
reading since January (42.5). The July decline in the headline index reflected drops
in gauges for household activity and employment that were partly offset by a
gain in the corporate activity component.