Japanese big makers' business confidence up for Q3

TOKYO, Dec 13 (KUNA) -- Business confidence among major Japanese manufacturers improved for the 3rd straight quarter, reflecting a recovery in auto production, the Bank of Japan said Wednesday.

The central bank's quarterly survey showed the business sentiment among big makers, such as automakers and electronics makers, in the world's third-largest economy rose to plus 12 in December, compared with plus nine in the previous September survey.
The headline index represents the percentage of companies, which are positive about their business minus the percentage of those who gave negative replies. So, a positive number means optimists outnumber pessimists. The central bank's "tankan," which means short-term economic outlook, is Japan's most closely watched index of business confidence.
Confidence among large retailers, banks, real estate companies and other non-manufacturers also climbed three points to plus 30, up for the seventh quarter in a row and the highest since November 1991, thanks to resumption of economic activities and inbound tourism following the lifting of COVID-19 restrictions.
Looking ahead, large manufacturers expect their business sentiment index to worsen four points to plus eight in the next March survey, while large non-manufacturers predict the reading to slide six points to plus 24. The latest survey was conducted between November ninth and December 12, covering 9,072 companies, of which 99.3 percent responded. (end) mk.sm.