Japanese manufacturers’ sentiment has turned positive for the first time in nearly two years, the Bank of Japan’s Tankan survey has indicated.
The big manufacturers’ index rose to plus 4 in the April-to-June period, from minus 8 in the previous quarter.
Large manufacturers also plan to boost their capital spending in the current financial year, the survey showed.
Japan has unveiled aggressive policy moves in recent months to try to spur growth in its stagnant economy.
Analysts said the survey’s results indicated that the policies were starting to have an impact.
“The Tankan confirmed that expectations among big Japanese manufacturers for a weaker yen and a steady economic recovery more than offset recent market turmoil,” said Takeshi Minami, chief economist as Norinchukin Research Institute, in Tokyo.
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