Business sentiment in Japan improved in the three months to September, the Bank of Japan’s Tankan survey showed on Wednesday. The headline index for big manufacturers’ sentiment rose to 13, above expectations of plus 10 in a Reuters poll and up from plus 12 in the previous quarter.
“The big manufacturers index is actually quite firm – we had been expecting manufacturing sentiment to come down a little bit considering that economic numbers have slowed but I think the weaker yen is lifting sentiment among manufacturers,” said Izumi Devalier, Japan economist at HSBC.
The report also showed that big firms plan to raise capital spending by 8.6 percent for the fiscal year that started in April, compared with analyst forecasts for a 7.2 percent increase.
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