TMCnet News
URGENT: Big manufacturers' sentiment up to 13 from 12: BOJ's Tankan(Japan Economic Newswire Via Acquire Media NewsEdge) Business confidence among large Japanese manufacturers marginally improved in September from three months earlier despite impact from the April consumption tax hike, the Bank of Japan's Tankan survey showed Wednesday, with the key index unexpectedly rising to 13 from June's 12. But the index for big nonmanufacturers' sentiment dropped to 13 from 19 for the second consecutive quarter of deterioration amid concerns that the tax hike could weaken private consumption and business investment. The recent weakness of the yen also affected the result. A Kyodo News survey of private economists had forecast a decline to 10 for major manufacturers such as carmakers and electronics makers and to 17 for nonmanufacturers including construction firms and utilities. (c) 2014 Kyodo News |