A Japanese government survey has found that worker sentiment fell in September for the first time in four months. The drop reflects increasing budget-mindedness among consumers facing higher prices.
The Economy Watchers Survey by the Cabinet Office shows the index last month stood at 47.8, down 1.2 points from August.
The survey covered about 2,000 workers in various industries nationwide. It asked them to compare economic conditions to three months prior.
A respondent working in a shopping area in the Tokai region said rice prices had risen by 30 to 40 percent. The person noted that such a surge in the price of a food staple makes people reluctant to spend extra money.
A worker at a clothing store in the Tohoku region said autumn items were not selling well because the days had remained hot.
But one respondent said price increases had not affected the number of customers. Another said price hikes were accompanied by pay raises.
The Cabinet Office maintained its assessment that the economy has continued to moderately recover.
The index for the outlook for the economy two to three months ahead fell by 0.6 points from the previous month to 49.7. It’s the first decline in four months.