Japan business mood at 2.5-year high as COVID hit eases -Tankan

 Japan business mood at 2.5-year high as COVID hit eases -Tankan

A man walks in front of containers and cranes at an industrial port in Tokyo, Japan September 29, 2017. REUTERS/Toru Hanai

  • Big manufacturers’ sentiment index +14 in June vs +5 in March
  • Big non-manufacturers’ mood +1 in June vs -1 in March
  • Survey shows Japan’s economic recovery broadening

TOKYO, July 1 (Reuters) – Japanese big manufacturers’ business confidence improved in the second quarter to hit a two-and-half-year high, a central bank survey showed, a sign solid global demand was helping the economy emerge from the coronavirus pandemic-induced doldrums.

Service-sector sentiment also turned positive for the first time in five quarters, the Bank of Japan’s (BOJ) “Tankan” survey showed, indicating that the economic recovery was broadening even as Japan struggles to contain a fresh wave of coronavirus infections.

Companies expect to increase capital expenditure in the year that began in April as profit recovers from last year’s slump,…

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