Japan's economy watchers' assessment of the current economic situation turned more upbeat in December, survey data released by the Cabinet Office revealed Tuesday.
The Eco Watchers' current conditions indicator increased to 55.7 in December from 53.5 in November and 51.8 in October. Economist had forecast a more modest rise to 54 for December.
The better assessment of the current situation mainly reflected a strong holiday shopping season, improved consumer confidence and an increase in demand for goods prior to to the tax hike, the survey showed.
Meanwhile, the expectations index, which reflects the assessment of future economic situation in Japan, decreased modestly to 54.7 in December from 54.8 a month earlier. The index has fell for the first time in four months.
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