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Japan Business Confidence Continues to Surge
Confidence among Japan's big manufacturers has climbed to a six-year high, according to the Bank of Japan's quarterly tankan survey.
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Confidence among Japan's big manufacturers has climbed to a six-year high, according to the Bank of Japan's quarterly tankan survey.
The quarterly index, which jumped from +4 in April-June to +12 in July-September, rose to +16 for October-December. A positive number signifies optimism.
The central bank's gauge for large carmakers advanced to +31 in from +27. The index for large non-manufacturers gained six points to +20, its highest level since September 2007, in the current quarter.
But large companies also trimmed their investment plans for the fiscal year ending March 31 to an average 4.6% increase from 5.1% in the previous quarter. Analysts fret that a slowdown in capital spending, which accounts for about 10% of Japan's economic activity, could hurt the country's recovery.
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