Japan Economy Watchers Sentiment Surges To Nearly Eight-Year Highs As Curbs Removed

Japan Economy Watchers Sentiment Surges To Nearly Eight-Year Highs As Curbs Removed

Business sentiment among workers with jobs sensitive to economic trends in Japan jumped in October to its highest level since January 2014 as the government lifted the state of emergency over the coronavirus and eateries and retailers began recovering from the pandemic fallout, official data showed Tuesday.

The diffusion index of confidence measuring the current mood compared with three months earlier among “economy watchers,” such as taxi drivers and restaurant staff, climbed 13.4 points from September to 55.5, up for the second straight month, according to the Cabinet Office.

The monthly improvement was the largest since June last year, it said.

The office also upgraded its assessment of the economy for the second consecutive month, saying, “The economy is gradually picking up though concerns remain over the coronavirus pandemic.” In the previous month, the office said the economy “has been rebounding.”

A reading above 50 indicates that more respondents reported improving conditions than worsening ones. The office polled 2,050 workers from Oct. 25 to 31, of whom 1,811, or 88.3 percent, responded.

New COVID-19 cases in Japan have significantly decreased recently, with the figure falling to triple digits, compared to a peak level of nearly 26,000 in August. Japan's coronavirus state of emergency was fully lifted on Sept. 30.

Requests for eateries to restrict their opening hours were mostly lifted across the country in late October.

Looking ahead, the diffusion index gauging business sentiment in the coming months edged up 0.9 points from the previous month to 57.5.

Related coverage:

No coronavirus deaths were reported in Japan for 1st time in 15 months

Japan eases limits on attendance at large events as virus cases fall

Tokyo, other areas lift COVID curbs on eateries amid resurgence worries

From World News including- Japan economy watchers sentiment jumps to nearly 8-yr high as curbs lifted
Sourced From: english.kyodonews.net/news/2021/11/70d47b303c3f-japan-oct-economy-watchers-sentiment-jumps-to-nearly-8-yr-high.html
Published Date: 11/09/21

Leonard Pruitt

Leonard S. Pruitt started working for in 2020. Before joining us, Leonard worked as a freelance journalist for several radio stations and travel agencies.

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