Japan’s Business Confidence Hits 3-yr High

Japan Today reports:

Confidence among Japan’s biggest manufacturers has risen for the third straight quarter to the best level in more than three years, a key central bank survey showed on Monday as exports continue to grow on a global economic recovery.

The Bank of Japan’s Tankan report — a quarterly survey of more than 10,000 companies — showed a reading of 17 among major manufacturers, the highest since the first quarter of 2014.

The key index, which rose from 12 in the previous survey, also beat market expectations of a reading around 15.

The country’s prospects have been improving on the back of strong exports, with investments linked to the Tokyo 2020 Olympics also giving the economy a shot in the arm.

The Tankan is closely watched for being the broadest indicator of how Japan Inc is faring.

The report comes after a batch of government data on Friday showed inflation ticked up in May but weak spending underlined the challenges still facing Tokyo’s battle to ramp up prices and slay years of on-off deflation.

Source: Japan today, 3 July 2017
https://japantoday.com/category/business/japan-business-confidence-hits-three-year-high-bank-of-japan