A measure of the public assessment of the current situation of the Japanese economy weakened as expected in March to the lowest level in more than two-and-a-half years, survey data from the Cabinet Office showed on Tuesday.
The current conditions index of the Economy Watchers' Survey dropped to 45.1 in March from 45.6 in February. Further, this was the lowest reading since July 2022, when it was 43.6.
Any score below 50 indicates pessimism, while a reading above 50 indicates optimism.
Household activity-related measures decreased in March amid falls in the retail and housing segments. Corporate activity-related measures also worsened due to the decline in the non-manufacturing sector.
The outlook index that signals future activity decreased to 45.2 from 46.6 in the previous month, as household activity-related conditions weakened.