TOKYO (dpa-AFX) - A measure of the public assessment of the current situation of the Japanese economy improved more-than-expected in May, survey data from the Cabinet Office showed on Monday.
The current conditions index of the Economy Watchers' Survey rose to 44.4 in May from 42.6 in April, which was the lowest reading in more than three years. The expected score was 43.8.
However, any score below 50 indicates pessimism, while a reading above 50 indicates optimism.
The signs of resilience in May were mainly driven by household-related activities, which rose by 2.5 points to 44.1. Meanwhile, corporate activity-related measures dropped by 1.0 points to 44.2.
Corporate activity-related measures worsened due to the decline in the manufacturing sector.
The outlook index that signals future activity also rose to 44.8 from 42.7 in the previous month, as both household and corporate activity-related conditions strengthened.
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