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Japan's Eco Watchers Current, Outlook Indices Improve In May

Japan's economy watchers' assessment of current conditions and their expectations strengthened in May, survey data showed Monday.

The current conditions index rose more-than-expected to 45.1 in May from 41.6 in April. The expected score was 45. But the reading remained below 50 for the second consecutive month.

The outlook for the next two to three months, came in at 53.8 in May, up from 50.3 in April.

Survey data from the Cabinet Office today showed that the consumer confidence index rose to 39.3 in May from 37.0 in April.

Both surveys add to the evidence that the economy is already on the mend, so the shock from the sales tax hike is unlikely to last, Marcel Thieliant, an economist at Capital Economics said.

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