Business confidence among Japanese workers with jobs sensitive to economic conditions worsened in November for the second straight month, with the April 1 consumption tax hike and a weaker yen hurting domestic demand, the government said Monday.
The diffusion index of sentiment over the nation’s current economic situation among so-called “economy watchers,” such as taxi drivers and restaurant employees, was down 2.5 points from the previous month to 41.5, the Cabinet Office said.
As the index fell below the threshold line of 50 for the fourth consecutive month, the government downgraded its basic assessment of the monthly survey for the second month.
The economy watchers suggest the country’s economic recovery “has shown some weakness recently,” the office said, deleting the phrase the economy “is continuing to recover at a moderate pace.”
“Concerns over price rises are seen,” it added.