Signs of improvement for Japan

The Reuters Tankan index yesterday indicated improving economic conditions in Japan with an increase in its manufacturing index to +11 in January from +7 in December, and improved for a second consecutive month in its non-manufacturing index, to -2 from -12, suggesting sentiment is no longer weighed down by the concentration of reactionary effects linked to the expiration of Eco Car subsidies, the hike in the cigarette tax and the end of record-breaking heat.