Japanese business is optimistic for the first time in two years
BIG Japanese manufacturers turned optimistic for the first time in two years in the second quarter and forecast a rise in capital spending plans, indicating that a slow economic recovery is taking hold.
The Bank of Japan tankan of more than 11,000 companies also showed optimism among big manufacturers would grow further in the current quarter, although analysts said the report may not have accounted fully for a sharp drop in Japanese stocks between April and June and a rally in the yen to a two-month high against the dollar.
Most other manufacturers and service-sector firms reported an improvement in sentiment but were still pessimistic.