Tuesday, October 8, 2013
Sept Econ Watchers Survey Rises 1st Time In 6 Months
TOKYO (NQN)--People who work in economically sensitive industries have a cheerier outlook, as the economy watchers index rose for first time in six months in September, up 1.6 points from August to 52.8.
Sentiment improved in part due to strong sales of new-model cars and a late surge in housing demand ahead of the consumption tax rate hike in April.
The latest figures were released Tuesday by the Cabinet Office on Tuesday. The government upgraded its overall assessment of the index for first time in seven months, saying the economy is steadily picking up. Previously, its assessment was that the economy was gradually picking up.
The index of leading indicators, a barometer of economic conditions several months down the road, climbed 3.0 points to 54.2, rising for the first time in five months. Expectations that Tokyo's successful bid for the 2020 Summer Olympics will lift the economy, and that demand will jump at the last minute, before the consumption tax rises, helped push the index higher.