Japan business mood betters to 6-year high, bodes well for ‘Abenomics’ : worldleaks
Japanese big manufacturers’ business confidence improved over the three months to December to its highest level in six years, a central bank survey indicated, boding well for Prime Minister Shinzo Abe’s stimulus policies aimed at ending 15 years of grinding deflation.
But the Bank of Japan’s quarterly “tankan” survey pointed companies were less affirmative about the outlook and cautious of boosting capital expenditure, highlighting their uncertainty on whether the economy will sustain its momentum.
The headline index for big manufacturers’ sentiment bettered 4 points from the previous quarter to plus 16, the tankan survey showed on Monday, slightly above a median market forecast of plus 15. It was the fourth straight quarter of improvement and the highest level since December 2007.
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