A quarterly survey by the Bank of Japan shows business sentiment has improved sharply with expectations that the economy is recovering from a year-long recession.
The BOJ’s “tankan” released Monday reported rebounds in all categories, both manufacturing and nonmanufactuing companies, large and small.
It was a marked improvement from the past several quarterly reports as Japan battled the coronavirus pandemic. The main measure of business conditions of large manufacturers rose to minus 10 from minus 27, while business sentiment among large non-manufacturers such as service industries rose to minus 5 from minus 12.
The actual results were better than forecast. The tankan measures corporate sentiment by subtracting the number of companies.