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Optimism Soars Among Japan’s Big Manufacturers
The business sentiment among Japan's largest manufacturers, including carmakers, surged in July-September, according to the Bank of Japan's quarterly tankan index.
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The business sentiment among Japan's largest manufacturers, including carmakers, surged in July-September, according to the Bank of Japan's quarterly tankan index.
The quarterly index jumped from +4 for the fiscal first quarter (April-June) to +12 for the following three-month period. A positive number indicates optimism. The index for Japan's small manufacturers remained pessimistic but improved from -14 to -9, according to the central bank.
The index for Japan's business community overall swung from -2 in the first fiscal quarter to +2 in July-September. But the bank notes that pessimism among large enterprises overall remained slightly pessimistic (-2).
Japan's sluggish economy emerged from recession for the third time in three years in late 2012. The country's gross domestic product rose 3.8% in April-June. But analysts predict slower growth until at least mid-decade because of higher taxes, prices and unemployment.
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