Japan’s Service Sector Sentiment Improves in July

The Japanese services sector sentiment index increased during the month of July, which showed some improvement in business confidence despite the continuing concerns about the impact of the Covid-19 pandemic.

The Japanese Cabinet’s Labor Survey of taxi drivers, hotel workers and restaurant employees – dubbed “economy watchers” for their proximity to consumer and retail trends – showed that their confidence in current economic conditions rose 2.3 points to 41.1 from June.

The Cabinet Office said, in its assessment, that the index is recovering, but concerns about the Coronavirus are increasing.