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Japan's Eco Watchers Current Conditions Index Improves Marginally in June

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Economic sentiment among Japan's street-level workers improved marginally in June but remained in the pessimistic territory, according to survey data released by the Cabinet Office on Wednesday.

The seasonally adjusted headline Eco Watchers Survey's current conditions index grew to 44 points from 43.6 points in May. The latest print missed the consensus forecast of 44.3 points, tracked by Investing.com.

The reading measures the economic mood of workers with close ties to consumer and business activity, such as taxi drivers, hairdressers, and restaurant staff. A reading above 50 indicates optimism, while a reading below suggests pessimism.

The monthly momentum was driven by somewhat improving conditions in household activity-related services, as the services and housing sub-components increased by 2.1 points and 3.6 points to end at 46.4 points and 38.4 points, respectively.

The improvements were offset by decreases in the retail and food and beverage sub-indices.

The corporate activity-related index, which tracks manufacturing and non-manufacturing business responses, rose to 45.6 in June from 43.7 in the month prior.

Looking ahead, the seasonally adjusted Eco Watchers future economic conditions index grew to 45.7 points from 40.7 recorded in the preceding month.

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