The public sentiment towards Japan's economy significantly declined in April, hitting the weakest point in over a year and a half, per the data shared by the Cabinet Office. Also, the economic outlook saw a downward trend.
The Economy Watchers' Survey's current conditions index, gauging the economy's present state, dipped to 47.4 in April, experiencing a fall from 49.8 in March. Notably, any rating under 50 signifies a pessimistic view. Moreover, this is the weakest performance since August 2022 when it stood at 45.5.
Both domestic and collective activities influenced the overall index's fall. Beyond that, the outlook index, an indicator of future economic activity, slid to a 16-month low of 48.5 in April from 51.2 in March, primarily due to a contraction in food and drink-related contributions.
