Service sector

Japan’s services sector sentiment in October at nearly 8-year high

People sit at a restaurant using plexiglass dividers to protect customers from the coronavirus disease (COVID-19) in the Shibuya area of ​​Tokyo, Japan, July 29, 2021. REUTERS/Androniki Christodoulou

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TOKYO, Nov 9 (Reuters) – Japan’s services sector confidence index in October hit its highest level in nearly eight years after state of emergency restrictions were eased last month and as new cases of COVID-19 slipped.

The economy watchers’ index rose 13.4 points to 55.5 in October, the highest level since January 2014, government data showed. It was the second straight month of increases and marked the biggest gain since June 2020.

The index is based on a survey of workers such as taxi drivers, hotel workers and restaurant staff who are called “economy watchers” for their closeness to consumer and sales trends in the world. detail.

The outlook index – based on observers’ view of the economy for the next two to three months – gained 0.9 points in October to 57.5, the highest level since November 2013.

The survey was conducted October 25-31 and based on more than 1,800 responses nationwide.

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Reporting by Kentaro Sugiyama; Written by Kantaro Komiya; Editing by Chang-Ran Kim and Edwina Gibbs

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