AFP, Tokyo :
Business confidence among Japan’s largest manufacturers is at its lowest since Tokyo introduced measures to kick-start the struggling economy more than three years ago, a central bank survey showed Monday.
The Bank of Japan’s closely watched Tankan report comes after data showing weak growth in the second quarter and as soft inflation and spending figures on Friday underscored the wobbly recovery.
The latest Tankan-a key gauge of Japan Inc’s health-missed market forecasts for a slight improvement in the mood among major firms.
Sentiment among big manufacturers is wallowing at its lowest levels since Prime Minister Shinzo Abe kicked off his growth blitz, dubbed Abenomics, in 2013.
The survey contradicts Tokyo’s view that the world’s number three economy is on the upswing, said Satoshi Osanai, senior economist at Daiwa Institute of Research.
“The economy is weak and certainly not in a recovery mode,” he added.
Business confidence among Japan’s largest manufacturers is at its lowest since Tokyo introduced measures to kick-start the struggling economy more than three years ago, a central bank survey showed Monday.
The Bank of Japan’s closely watched Tankan report comes after data showing weak growth in the second quarter and as soft inflation and spending figures on Friday underscored the wobbly recovery.
The latest Tankan-a key gauge of Japan Inc’s health-missed market forecasts for a slight improvement in the mood among major firms.
Sentiment among big manufacturers is wallowing at its lowest levels since Prime Minister Shinzo Abe kicked off his growth blitz, dubbed Abenomics, in 2013.
The survey contradicts Tokyo’s view that the world’s number three economy is on the upswing, said Satoshi Osanai, senior economist at Daiwa Institute of Research.
“The economy is weak and certainly not in a recovery mode,” he added.
