Japan JPY

Japan Eco Watchers Survey Outlook

Info

History

Chart

Impact:

Low

Source: Cabinet Office, Japan

Latest Release:

Date:

Surprise:

2.8

Actual:

44.8

Forecast: 42

Previous/Revision:

42.7

Period: May

Next Release:

Date:

Period: Jun

What Does It Measure?

The Japan Eco Watchers Survey Outlook measures the sentiment of economic activity and outlook among businesses and households in Japan. It primarily focuses on expectations for the economy's performance, assessing key areas such as employment, production, and overall economic growth, with higher readings indicating greater optimism about future economic conditions.

Frequency

The Japan Eco Watchers Survey Outlook is released monthly, typically within the first week of the month, and represents a preliminary estimate.

Why Do Traders Care?

Traders pay close attention to this survey because it provides insights into consumer and business sentiment, which can influence financial markets. Stronger-than-expected results may boost the Japanese yen and equities, while weaker readings could lead to bearish sentiments for both currencies and stocks, reflecting deepening economic concerns.

What Is It Derived From?

The survey is derived from responses collected from a panel of approximately 2,000 economic observers that include business individuals and households nationwide. It utilizes qualitative assessments to gauge optimism and expectations regarding Japan's economic conditions, employing a diffusion index method to aggregate responses into a composite score.

Description

The Eco Watchers Survey includes both preliminary and final reports, with preliminary data reflecting early estimates based on timely responses from observers, while final data provides a more accurate and revised picture of sentiment but is released later. The survey reports are evaluated on a year-over-year (YoY) basis, allowing traders to identify longer-term trends and avoid seasonal volatility, which helps in understanding overarching shifts in economic outlook.

Additional Notes

The Japan Eco Watchers Survey Outlook serves as a leading economic indicator, providing early insights into consumer and business behavior trends. Its results can be correlated with other macroeconomic indicators, such as GDP growth and employment rates, and it is relevant for understanding broader economic shifts not only in Japan but in comparison to other regions globally.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for JPY, Bullish for Stocks. Lower than expected: Bearish for JPY, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Jun 09, 2025	44.8	42	42.7	2.8
May 12, 2025	42.7	45.5	45.2	-2.8
Apr 08, 2025	45.2	46	46.6	-0.8
Mar 10, 2025	46.6	48.6	48	-2
Feb 10, 2025	48	49.7	49.4	-1.7
Jan 14, 2025	48.8	49.6	49.4	-0.8
Dec 09, 2024	49.4	48.1	48.3	1.3
Nov 11, 2024	48.3	50.1	49.7	-1.8
Oct 08, 2024	49.7	50	50.3	-0.3
Sep 09, 2024	50.3	48.6	48.3	1.7
Aug 08, 2024	48.3	48.5	47.9	-0.2
Jul 08, 2024	47.9	45.5	46.3	2.4
Jun 10, 2024	46.3	48.3	48.5	-2
May 10, 2024	48.5	51.3	51.2	-2.8
Apr 08, 2024	51.2	52.9	53	-1.7
Mar 08, 2024	53	52.4	52.5	0.6
Feb 08, 2024	52.5	49.7	50.4	2.8
Jan 12, 2024	49.1	49.3	49.4	-0.2
Dec 08, 2023	49.4	49	48.4	0.4
Nov 09, 2023	48.4	50.1	49.5	-1.7
Oct 10, 2023	49.5	51.5	51.4	-2
Sep 08, 2023	51.4	54.2	54.1	-2.8
Aug 08, 2023	54.1	53.2	52.8	0.9
Jul 10, 2023	52.8	55	54.4	-2.2
Jun 08, 2023	54.4	55.9	55.7	-1.5
May 11, 2023	55.7	53.2	54.1	2.5
Apr 10, 2023	54.1	51	50.8	3.1
Mar 08, 2023	50.8	49.5	49.3	1.3
Feb 08, 2023	49.3	47.6	46.8	1.7
Jan 12, 2023	47	46	45.1	1
Dec 08, 2022	45.1	47	46.4	-1.9
Nov 09, 2022	46.4	48.1	49.2	-1.7
Oct 11, 2022	49.2	49.8	49.4	-0.6
Sep 08, 2022	49.4	42.7	42.8	6.7
Aug 08, 2022	42.8	48	47.6	-5.2
Jul 08, 2022	47.6	51	52.5	-3.4
Jun 08, 2022	52.5	50.5	50.3	2
May 12, 2022	50.3	49	50.1	1.3
Apr 08, 2022	50.1	44	44.4	6.1
Mar 08, 2022	44.4	42	42.5	2.4
Feb 08, 2022	42.5	49.7	50.3	-7.2
Jan 12, 2022	49.4	55	53.4	-5.6
Dec 08, 2021	53.4	58	57.5	-4.6
Nov 09, 2021	57.5	56	56.6	1.5
Oct 08, 2021	56.6	44	43.7	12.6
Sep 08, 2021	43.7	48	48.4	-4.3
Aug 10, 2021	47.7		52.4
Jul 08, 2021	52.4	48	47.6	4.4
Jun 08, 2021	47.6	41.8	41.7	5.8
May 13, 2021	41.7	49	49.8	-7.3
Apr 08, 2021	49.8	52	51.3	-2.2
Mar 08, 2021	51.3	40	39.9	11.3
Feb 08, 2021	39.9	34	36.1	5.9
Jan 12, 2021	37.1	37.2	36.5	-0.1
Dec 08, 2020	36.5	50	49.1	-13.5
Nov 10, 2020	49.1	59.2	48.3	-10.1
Oct 08, 2020	48.3	41	42.4	7.3
Sep 08, 2020	42.4	35	36	7.4
Aug 11, 2020	36	48.2	44	-12.2
Jul 08, 2020	44		36.5
Jun 08, 2020	36.5	9.5	16.6	27
May 13, 2020	16.6	16.5	18.8	0.1
Apr 08, 2020	18.8	38.1	24.6	-19.3
Mar 09, 2020	24.6	45.7	41.8	-21.1
Feb 10, 2020	41.8	47.1	45.5	-5.3
Jan 14, 2020	45.4	44.7	45.7	0.7
Dec 09, 2019	45.7	40.5	43.7	5.2
Nov 11, 2019	43.7	41.3	36.9	2.4
Oct 08, 2019	36.9	44.2	39.7	-7.3
Sep 09, 2019	39.7	45.1	44.3	-5.4
Aug 08, 2019	44.3	46.9	45.8	-2.6
Jul 08, 2019	45.8	48.3	45.6	-2.5
Jun 10, 2019	45.6	49.5	48.4	-3.9
May 14, 2019	48.4	49.4	48.6	-1
Apr 08, 2019	48.6	49.3	48.9	-0.7
Mar 08, 2019	48.9	49.7	49.4	-0.8
Feb 08, 2019	49.4		47.9
Jan 11, 2019	48.5		52.2
Dec 10, 2018	52.2		50.6
Nov 08, 2018	50.6		51.3
Oct 09, 2018	51.3	50.8	51.4	0.5
Sep 10, 2018	51.4	50.5	49	0.9
Aug 08, 2018	49	49.8	50	-0.8
Jul 09, 2018	50	50.3	49.2	-0.3
Jun 08, 2018	49.2		50.1
May 10, 2018	50.1	49.2	48.9	0.9
Apr 09, 2018	49.6	51.5	51.4	-1.9
Mar 08, 2018	51.4	52.8	52.4	-1.4
Feb 08, 2018	52.4	53.5	52.7	-1.1
Jan 12, 2018	52.7	53.5	53.8	-0.8
Dec 08, 2017	53.8		54.9
Nov 09, 2017	54.9	51.2	51	3.7
Oct 10, 2017	51	50.5	51.1	0.5
Sep 08, 2017	51.1		50.3
Aug 08, 2017	50.3		50.5
Jul 10, 2017	50.5		49.6
Jun 08, 2017	49.6		48.8
May 11, 2017	48.8		48.1
Apr 10, 2017	48.1		50.6
Mar 08, 2017	50.6		49.4
Feb 08, 2017	49.4		50.9
Jan 12, 2017	50.9		53
Dec 08, 2016	53		51.4
Nov 09, 2016	51.4		49.9
Oct 11, 2016	48.5		47.4
Sep 08, 2016	47.4		47.1
Aug 08, 2016	47.1		41.5
Jul 08, 2016	41.5		47.3
Jun 08, 2016	47.3		45.5
May 12, 2016	45.5		46.7
Apr 08, 2016	46.7		48.2
Mar 08, 2016	48.2		49.5
Feb 08, 2016	49.5		48.2
Jan 12, 2016	48.2		48.2
Dec 08, 2015	48.2		49.1
Nov 10, 2015	49.1		49.1
Oct 08, 2015	49.1	48.2	48.2	0.9
Sep 08, 2015	48.2		51.9
Aug 10, 2015	51.9		53.5
Jul 08, 2015	53.5		54.5
Jun 08, 2015	54.5		54.2
May 13, 2015	54.2		53.2