Japan Economy Watchers Survey

Last Release

May 31, 2025

Actual

44.4

Units In

Points

42.6

Frequency

Monthly

Next Release

Jul 08, 2025

Time to Release

27 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
57.5 Dec 2005	9.4 Apr 2020	45.07 Points	2001-2025	N/A

The Economy Watchers Current Index measures the current mood of businesses that directly service consumers, such as barbers, taxi drivers, and waiters. The data is compiled from a survey of about 2,050 workers. A reading above 50.0 indicates optimism; below indicates pessimism.

Latest Updates

The gauge for Japan’s service sector rose to 44.4 in May 2025, up from 42.6 in the previous month — its lowest level since February 2022 — and above market expectations of 43.9. Despite the increase, it marked the fifth consecutive month of overall decline, driven by a drop in the household budget trends index, particularly in the food and beverage sector. The corporate trend index also fell, weighed down by weakness in the manufacturing industry. On the other hand, housing-related other industries and retail trade showed growth, and employment also improved during the period. Meanwhile, the economic outlook index climbed to 44.8 in May from 42.7 in April, supported by expectations of summer bonuses and wage increases, though concerns remained over price pressures and the impact of US trade policy.