08.06.202306:47:00UTC+00Japan Eco Watchers Index At 17-Month High; Outlook Weakens

A measure of public opinion about the Japanese?economy?strengthened further in May to hit its highest level in nearly one-and-a-half years, survey data from the Cabinet Office showed on Thursday.

The current conditions index of the Economy Watchers' Survey, which measures the present situation of the economy, climbed to 55.0 in May from 54.6 in April. Economists had forecast the index to rise to 55.1.

A reading above 50 indicates optimism.

Further, this was the highest score since December 2021, when it was 58.3.

Both household and cooperative activities contributed to the increase in the overall index.

The outlook index that signals future activity decreased to 54.4 in May from an 18-month high of 55.7 in April.