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Japan service sector sentiment worsens in November
December 8, 2014 / 5:23 AM / 3 years ago

Japan service sector sentiment worsens in November

A businessman rests on a bench at Tokyo's business district September 30, 2014. REUTERS/Yuya Shino

TOKYO (Reuters) - Japan’s service sector sentiment index fell to 41.5 in November, a Cabinet Office survey showed on Monday, reflecting worries over the economic outlook after the April sales tax hike hit spending.

The survey of workers such as taxi drivers, hotel workers and restaurant staff - called “economy watchers” for their proximity to consumer and retail trends - showed their confidence about current economic conditions declined from 44.0 in October.

The Cabinet Office said the economy was showing weakness in its recovery recently and there are worries about price increases ahead.

That compared with the previous view that the economy was showing signs of weakness recently but was still likely to recover moderately as a trend.

The Cabinet Office started compiling the data in comparative form in August 2001.

The outlook index, indicating the level of confidence in future conditions, fell to 44.0 in November from 46.6 the previous month.

Reporting by Izumi Nakagawa, writing by Kaori Kaneko

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