Sentiment among Japanese manufacturers improved for the first time in three quarters, according to the Bank of Japan’s key economic indicator, the Tankan survey.
The headline index for big manufacturers’ sentiment came at in minus 8, compared to the minus 12 reading in the previous quarter. However, the data was a smaller improvement than the minus 7 percent reading that markets had forecast.
Large firms stated they remain cautious about increasing capital spending until they see solid signs of improved demand, which suggests they remain unconvinced of “Abenomics.”
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