Morale boost at Japan’s factories

Big Japanese manufacturers turned optimistic in the third quarter as output recovered swiftly after the 11 March earthquake and tsunami, but scaled back forecasts for the months ahead due to the yen's strength and a looming global slowdown, a Ministry of Finance survey showed yesterday. The index of sentiment at large manufacturers rose to plus 10.3 in the July-September quarter from minus 23.3 in April-June.