Japanese manufacturers’ sentiment goes up

Tokyo, April 1 (IANS) Business confidence among large Japanese manufacturers rose in March from three months earlier, up for the first time in three quarters, supported by a pick-up in overseas economies and a weaker yen, according to the Bank of Japan’s (BOJ) key Tankan survey released Monday.

The improvement was, however, lower than analysts’ expectation. The Tankan survey’s headline index measuring sentiment among big manufacturers such as carmakers and high-tech firms stood at minus 8, up from December’s minus 12, reported Xinhua.

The quarterly survey said that sentiment among non-manufacturing companies such as those related to construction and services rose to plus 6, up from plus 4 in the previous quarter but lower than the average forecast of an increase to plus 8.

The BOJ surveyed 10,698 companies between Feb 25 and March 29, among which 98.9 percent responded.

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