Japan Economy Watchers Survey by Sector
Monthly diffusion indices of the Cabinet Office Economy Watchers Survey — about 2,050 taxi drivers, shop clerks, restaurant managers and other workers who observe the economy first hand — for current conditions (direction and level) and future conditions, by sector, seasonally adjusted, since 2000. 50 = neutral.
| Indicator | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | 09-2025 | 08-2025 | 07-2025 | 06-2025 | 05-2025 | 04-2025 | 03-2025 | 02-2025 | 01-2025 | 12-2024 | 11-2024 | 10-2024 | 09-2024 | 08-2024 | 07-2024 | 06-2024 | 05-2024 | 04-2024 | 03-2024 | 02-2024 | 01-2024 | 12-2023 | 11-2023 | 10-2023 | 09-2023 | 08-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DI for current conditions (direction)1 | ||||||||||||||||||||||||||||||||||||||
| Total3 | 46.4 | 45.7 | 44 | 43.6 | 40.8 | 42.2 | 48.9 | 47.6 | 47.7 | 48 | 48.2 | 47 | 46.7 | 45.5 | 45.5 | 45.1 | 43.7 | 45.4 | 45.9 | 48 | 48.2 | 48 | 46.2 | 47.9 | 48.8 | 48.3 | 47.8 | 46.9 | 48.9 | 50.1 | 51.2 | 50.2 | 50.3 | 49.3 | 49.3 | 50.6 | 53.5 | |
| Household activity-related4 | 45.5 | 45.4 | 43.5 | 43.8 | 40.5 | 41.7 | 48.8 | 47.1 | 47.2 | 47.6 | 47.7 | 46.6 | 46.2 | 45.1 | 45 | 44.7 | 42.8 | 44.9 | 45 | 47.9 | 48.3 | 47.9 | 45.2 | 47.3 | 48.9 | 48.1 | 47.6 | 46.2 | 48.3 | 49.7 | 50.8 | 49.5 | 50 | 49.4 | 49.3 | 50.7 | 54.3 | |
| Retail | 44.7 | 45 | 42.8 | 44.4 | 40.9 | 41.1 | 48 | 47.4 | 45.6 | 47.1 | 46.9 | 45.5 | 45.2 | 44.3 | 44.7 | 43.8 | 41.4 | 44 | 44.2 | 47.8 | 48.5 | 47.3 | 42.8 | 46.5 | 47.6 | 47.3 | 46.6 | 45.3 | 47 | 48.2 | 48.8 | 48.4 | 48.3 | 48 | 47.5 | 49.5 | 54.7 | |
| Food and beverage | 46.2 | 47.5 | 41.8 | 44.5 | 34.6 | 38.4 | 48.7 | 45.8 | 45.3 | 41.3 | 44 | 44.3 | 44.9 | 43.3 | 42.9 | 41.5 | 42.7 | 42.2 | 41.9 | 43.9 | 44.8 | 48.1 | 48 | 49.4 | 49.7 | 46 | 48.3 | 47.2 | 49.5 | 52 | 53.1 | 53 | 57 | 55.4 | 56.2 | 53.2 | 53.8 | |
| Services | 46.8 | 46.4 | 46.4 | 44.3 | 42.8 | 44.4 | 50.9 | 47.9 | 50.9 | 50.8 | 50.2 | 49 | 48.8 | 47.2 | 46.3 | 47.1 | 46 | 47.3 | 47.4 | 49.7 | 49.1 | 49.7 | 50.4 | 48.7 | 51.3 | 50.5 | 50.1 | 47.6 | 51 | 52.5 | 54.2 | 51.4 | 53.1 | 52.1 | 52.6 | 54 | 55.7 | |
| Housing | 46.1 | 41.9 | 38.4 | 34.8 | 31.5 | 38.5 | 46.7 | 42.6 | 47.1 | 44.9 | 47.2 | 48.1 | 44 | 45.1 | 43.1 | 45.9 | 39.9 | 43.9 | 45.3 | 44.7 | 46.1 | 45.4 | 41.3 | 45.7 | 47.8 | 45.9 | 45.4 | 46.3 | 46.6 | 47.3 | 50.4 | 47.4 | 43.8 | 43.7 | 42.5 | 43.1 | 45.1 | |
| Corporate activity-related2 | 48.2 | 46.6 | 45.6 | 43.7 | 41.5 | 43.1 | 49.9 | 49.5 | 48.6 | 49 | 49.9 | 48 | 48.4 | 46.4 | 46.6 | 45.3 | 45.8 | 46.9 | 47.2 | 48.5 | 48 | 47.7 | 48 | 49 | 48.3 | 48.9 | 48.1 | 48.7 | 49.8 | 50.6 | 52.5 | 51.7 | 50.9 | 48.7 | 48.5 | 50.1 | 51.1 | |
| Manufacturing | 48.8 | 47.2 | 46.4 | 46 | 42.9 | 44.5 | 50.3 | 48.9 | 48 | 46.9 | 48.7 | 47 | 47.9 | 46.4 | 44.9 | 44.4 | 46.3 | 47.3 | 46.6 | 47.2 | 45.9 | 47.1 | 47.3 | 48.3 | 46.5 | 46.9 | 48 | 46.9 | 47.6 | 48.1 | 51.4 | 51.5 | 49 | 47.3 | 46.4 | 47.6 | 49 | |
| Non-manufacturing | 48 | 46 | 44.8 | 42 | 40.3 | 42.1 | 49.5 | 50.4 | 49.4 | 51.1 | 50.9 | 48.7 | 48.5 | 46.4 | 47.5 | 45.9 | 45 | 46.3 | 47.7 | 49.8 | 49.5 | 48.1 | 48.5 | 49.6 | 49.7 | 50.4 | 48.2 | 50.3 | 51.9 | 52.7 | 53.7 | 52.4 | 52.8 | 49.8 | 50.3 | 51.8 | 52.7 | |
| Employment-related | 48.8 | 46.1 | 43.9 | 41.5 | 41.4 | 43.1 | 47.6 | 47.2 | 48.6 | 47.8 | 48 | 47.9 | 46.3 | 46.5 | 47 | 47.1 | 45.4 | 46.1 | 49.3 | 47.2 | 47.9 | 48.8 | 49.1 | 49.4 | 49.7 | 48.8 | 48.3 | 48.1 | 51.3 | 52.2 | 51.6 | 51.7 | 51 | 49.7 | 50.5 | 51.2 | 53.7 | |
| DI for future conditions (direction)1 | ||||||||||||||||||||||||||||||||||||||
| Total3 | 48.3 | 45.8 | 45.7 | 40.7 | 39.4 | 38.7 | 50 | 50.1 | 49.5 | 49.4 | 52.2 | 48.4 | 47.6 | 47.4 | 46.4 | 45.6 | 43.7 | 45.6 | 46.7 | 47.6 | 48.5 | 49.1 | 48 | 49.5 | 50.2 | 48.9 | 48.5 | 47 | 49.6 | 50.9 | 52 | 51.8 | 50.5 | 50.1 | 49.4 | 49.8 | 51.1 | |
| Household activity-related4 | 48 | 45.7 | 45.7 | 40.9 | 39.8 | 38.7 | 50 | 49.9 | 49.2 | 49.6 | 52.7 | 48.4 | 47.6 | 47.4 | 46.4 | 45.3 | 43.6 | 45.1 | 46.6 | 47.7 | 48.5 | 49 | 48 | 49.2 | 50.1 | 48.3 | 48.3 | 46.2 | 49.4 | 51.2 | 51.8 | 51.6 | 50.3 | 50.2 | 49.2 | 50.1 | 51.3 | |
| Retail | 47 | 45.9 | 45.9 | 40.9 | 40.8 | 38.1 | 49.5 | 49.1 | 48.5 | 48.8 | 52 | 47.2 | 46.4 | 45.9 | 45.8 | 44.9 | 43.8 | 44.3 | 45.7 | 46.5 | 47.6 | 48.3 | 47.2 | 48 | 49.1 | 47.7 | 47.7 | 45.6 | 48.8 | 50.8 | 50.1 | 49.9 | 47.9 | 48.7 | 48.3 | 49.5 | 50.5 | |
| Food and beverage | 47.7 | 42.9 | 46 | 42.4 | 38.9 | 35.8 | 51.4 | 51 | 49 | 50.4 | 52.1 | 51.2 | 48.9 | 49.5 | 47.9 | 46.1 | 44.4 | 44.5 | 46.4 | 49.2 | 48 | 50.3 | 49.6 | 49.7 | 53.3 | 50.5 | 48.7 | 47.4 | 51.7 | 53.5 | 56.5 | 59.4 | 57.6 | 56 | 51.9 | 52.8 | 55.5 | |
| Services | 51.2 | 47.3 | 46.8 | 42.6 | 39.6 | 40.9 | 52 | 53.1 | 51.4 | 51.9 | 55.1 | 50.3 | 50 | 50.2 | 47.9 | 46.5 | 43.6 | 47.2 | 49.3 | 50.8 | 51.3 | 50.9 | 51 | 52.6 | 52.3 | 50 | 50.2 | 47.1 | 50.7 | 52.5 | 54.8 | 54.5 | 54.4 | 53 | 51.5 | 52 | 53.4 | |
| Housing | 42.2 | 38 | 38.2 | 31.4 | 31.4 | 37 | 41.7 | 41 | 45.6 | 44.7 | 48.7 | 47.3 | 45.3 | 46 | 43.3 | 42.7 | 41.5 | 43.8 | 42.4 | 41.4 | 44.4 | 45.1 | 39.6 | 43.4 | 46.2 | 43.5 | 44.3 | 46.2 | 46.5 | 45.3 | 48.8 | 45.6 | 45.2 | 43.5 | 43.2 | 43.7 | 43.9 | |
| Corporate activity-related2 | 49.1 | 46 | 45.9 | 40.4 | 37.9 | 38.5 | 51.5 | 51.5 | 50 | 48.8 | 51.4 | 49.1 | 47.3 | 46.4 | 46.1 | 46.1 | 43 | 46.5 | 46.2 | 47.3 | 48.5 | 48.5 | 47.4 | 49.4 | 50.3 | 50 | 48.9 | 48.3 | 48.8 | 50.3 | 52.4 | 51.6 | 49.9 | 49.3 | 49.4 | 49.1 | 49.9 | |
| Manufacturing | 49.8 | 45.4 | 46 | 41 | 37.5 | 39.3 | 51.9 | 51.5 | 49.6 | 48.1 | 50.5 | 48 | 47 | 45.9 | 45.7 | 45.7 | 40.4 | 47.1 | 46 | 47.5 | 46.8 | 48.8 | 47 | 49.8 | 49.7 | 49.8 | 49.2 | 47.2 | 47.4 | 48.7 | 51.6 | 50.6 | 50.4 | 49 | 48.5 | 48.4 | 49 | |
| Non-manufacturing | 48.8 | 45.9 | 45.4 | 39.8 | 38.2 | 38 | 51 | 51.4 | 50.5 | 49.8 | 52.2 | 49.7 | 47.4 | 46.5 | 46.3 | 46.2 | 44.5 | 45.5 | 46.2 | 47 | 49.8 | 48.2 | 47.7 | 49.2 | 51 | 49.8 | 48.3 | 49 | 50.2 | 51.8 | 53.5 | 52.8 | 49.3 | 50 | 49.9 | 49.9 | 50.9 | |
| Employment-related | 48.6 | 46.5 | 44.8 | 39.2 | 40.1 | 39.8 | 46.4 | 48.3 | 50.8 | 48.8 | 50.2 | 47 | 48 | 49.5 | 47.4 | 46.4 | 45.5 | 47.1 | 49.1 | 47.9 | 48.4 | 50.5 | 49.4 | 51.9 | 50.7 | 50 | 49.7 | 49.9 | 52.7 | 50 | 52 | 53.6 | 53 | 51.2 | 50.4 | 49.4 | 52 | |
| DI for current conditions (level, reference)1 | ||||||||||||||||||||||||||||||||||||||
| Total3 | 45.7 | 45 | 43 | 44.5 | 42.4 | 43.7 | 47.5 | 47 | 45.9 | 46.8 | 46.8 | 45.6 | 45.8 | 44.5 | 44.9 | 44.7 | 44 | 44.8 | 45.6 | 47.5 | 47.3 | 47 | 44.7 | 47.6 | 48.3 | 47.3 | 47.1 | 46.2 | 48.2 | 48.8 | 49.6 | 48.9 | 49 | 48 | 48.4 | 49.6 | 52.4 | |
| Household activity-related4 | 44.5 | 44.4 | 42.3 | 44.4 | 41.7 | 42.7 | 46.8 | 46.4 | 44.8 | 46.3 | 45.8 | 44.7 | 44.9 | 43.4 | 43.8 | 43.9 | 42.9 | 44.1 | 44.5 | 47.3 | 47.1 | 46.6 | 43.3 | 46.9 | 48.1 | 46.7 | 47.2 | 45.2 | 47.7 | 48.3 | 48.9 | 48.4 | 48.7 | 48.1 | 48.7 | 49.8 | 53.3 | |
| Retail | 43.1 | 43.4 | 40.9 | 44.1 | 41.1 | 41.7 | 45 | 45.1 | 42.2 | 44.6 | 44.3 | 42.9 | 43.2 | 42.3 | 43.1 | 42.6 | 41.2 | 42.6 | 43.3 | 45.7 | 46.7 | 45.2 | 39.5 | 45.2 | 46.4 | 45.5 | 46.1 | 44.5 | 46.6 | 46.9 | 47 | 46.9 | 46.4 | 46.3 | 46.2 | 48.2 | 53.5 | |
| Food and beverage | 44.9 | 45.4 | 40 | 43.8 | 36.5 | 40.6 | 45.4 | 44.9 | 43.4 | 41.7 | 42.9 | 39.8 | 46.2 | 41.2 | 39.8 | 39.3 | 43.5 | 41.2 | 43.2 | 45.4 | 43.4 | 46.4 | 47 | 48.4 | 49.3 | 47.1 | 47.5 | 47.9 | 47.5 | 50.7 | 51.7 | 52.7 | 56.7 | 54.6 | 54.6 | 53.9 | 55.2 | |
| Services | 47.2 | 46.8 | 46.3 | 46.8 | 44.9 | 45.7 | 50.9 | 50.2 | 49.9 | 51 | 49.6 | 49.1 | 48.5 | 46.2 | 46 | 47.4 | 46.4 | 47.9 | 47.3 | 51.4 | 49.7 | 50.2 | 50.5 | 50.5 | 51.9 | 49.3 | 50.1 | 46.8 | 50.7 | 51.1 | 52.7 | 51.1 | 52.9 | 52 | 54.1 | 53.6 | 55 | |
| Housing | 44 | 41.5 | 38.2 | 36.2 | 36.6 | 40.7 | 44.9 | 41.8 | 46.3 | 45 | 45.5 | 46 | 43.5 | 43.2 | 43.8 | 44.3 | 42 | 43.5 | 44.6 | 44.5 | 43.1 | 43.3 | 41.6 | 43.9 | 44.7 | 44.7 | 43.5 | 41.8 | 44 | 45.4 | 44.9 | 44.4 | 42.3 | 39.1 | 39.9 | 42.3 | 41.7 | |
| Corporate activity-related2 | 48.8 | 47 | 45 | 44.9 | 44.4 | 46.4 | 49.3 | 48.6 | 47.7 | 47.4 | 48.7 | 47.6 | 47.8 | 46.5 | 47.1 | 46 | 45.8 | 45.7 | 46.8 | 47.3 | 47.4 | 47.2 | 47 | 48.3 | 47.8 | 48.3 | 45.9 | 47.9 | 48.6 | 49.3 | 50.7 | 49 | 48.7 | 47 | 46.4 | 48.3 | 49.3 | |
| Manufacturing | 49.1 | 48.6 | 45.4 | 46.5 | 45.2 | 46.7 | 48.9 | 47.2 | 45.3 | 44.9 | 45.7 | 44.5 | 45.4 | 44.6 | 44.9 | 43.8 | 44.4 | 42.9 | 43.2 | 43.3 | 42.7 | 44.1 | 44.4 | 46.7 | 43.7 | 45.1 | 43.5 | 44.5 | 46.2 | 47.3 | 47.8 | 46.1 | 45.7 | 43.8 | 43.6 | 44.3 | 47 | |
| Non-manufacturing | 48.9 | 45.7 | 44.6 | 43.9 | 43.8 | 46.2 | 49.6 | 49.9 | 49.6 | 49.6 | 51 | 49.4 | 49.2 | 48 | 48.6 | 47.9 | 46.9 | 47.7 | 49.5 | 50.6 | 50.9 | 49.9 | 48.8 | 49.3 | 51 | 50.6 | 47.5 | 51 | 51 | 51.1 | 53.1 | 51.8 | 50.9 | 49.6 | 48.6 | 51.3 | 50.9 | |
| Employment-related | 47.7 | 45 | 43.9 | 43.6 | 42.9 | 44.6 | 48.4 | 47.9 | 49.9 | 48.4 | 49.1 | 48.3 | 47 | 47.5 | 47.7 | 47.9 | 47.5 | 47.3 | 50.6 | 49 | 48.2 | 49.7 | 49.6 | 50.5 | 50.3 | 48.9 | 49.2 | 49.3 | 50.5 | 51.5 | 51.9 | 51.8 | 51.8 | 49.8 | 50.4 | 51.5 | 52.9 |
Latest reading
Total stood at 46.4 DI in Aug 2026. That is +1.5% from Jul 2026 and −0.6% from a year earlier. The series on this page is monthly and runs from Jan 2002 to Aug 2026. Source: Cabinet Office – Economy Watchers Survey.
- Latest
- 46.4 DI
- Aug 2026
- vs previous period
- +1.5%
- Jul 2026
- vs a year earlier
- −0.6%
About this data
Monthly diffusion indices of the Cabinet Office Economy Watchers Survey — about 2,050 taxi drivers, shop clerks, restaurant managers and other workers who observe the economy first hand — for current conditions (direction and level) and future conditions, by sector, seasonally adjusted, since 2000. 50 = neutral. Source: Cabinet Office.
