Business sentiment at big Japanese manufacturers turned positive for the first time this year and service-sector morale hit a five-month high, the Reuters Tankan poll showed, as the economy continued to improve from a COVID-led recession.
Wednesday's monthly poll, which tracks the Bank of Japan's closely watched quarterly tankan survey, found that manufacturers are also upbeat about the coming three months, while service-sector morale was seen down a tad.
"Big manufacturers' sentiment rose on improvements in the auto industry and it's likely to stay in positive territory, although the pace of recovery will be moderate." Many others, however, complained about the costs of doing business, reflecting still high global inflation on goods and services.
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