Japanese business confidence at three-year high, tankan survey shows
Tokyo — Confidence among Japan’s big manufacturers hit its highest level in more than three years in the June quarter, a closely watched central bank survey showed, adding to signs that the recovery in the world’s third-largest economy is gaining pace. Big firms also saw the job market at its tightest in 25 years, offering policy makers some hope that companies may finally raise wages, helping broaden an economic recovery. The survey underscores the Bank of Japan’s view that the economy is heading for a moderate expansion, though sources say weak price and wage pressures are likely to force it to slash its inflation forecasts later this month. The headline diffusion index, which measures big manufacturers’ sentiment, stood at positive 17 in June, the central bank’s quarterly "tankan" survey showed on Monday, its third straight quarter of improvement and up from positive 12 in the previous survey in March. This exceeded a median market forecast of positive 15 and was the highest sinc...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.