Japan Economy Watchers Index January 2008

Japanese merchant sentiment fell to a six-year low in January as stagnant wages and rising oil and food prices forced consumers to cut back on spending. The Economy Watchers index, a survey of barbers, shopkeepers and others who deal directly with consumers, fell to 31.8 in January from 36.6 in December. This is the biggest monthly drop ever the Cabinet Office said today in Tokyo. The index is