TOKYO, Oct 2 (KUNA) -- Business confidence among major Japanese manufacturers improved for the second straight quarter, the Bank of Japan said on Monday, fueled by a recovery in vehicle production.
The central bank's quarterly survey showed that the business sentiment index among big makers such as automakers and electronics makers rose to nine in September, compared with five in the previous June survey.
The index represents the percentage of companies positive about their business minus the percentage of those who gave negative replies. Thus, a positive number means optimists outnumber pessimists.
The central bank's "tankan," meaning short-term economic outlook, is Japan's most closely watched business confidence index.
Confidence among large retailers, banks, real estate companies and other non-manufacturers improved four points to 27, up for the sixth quarter in a row and the highest since November 1991, buoyed by resumption of economic activities and inbound tourism following the lifting of COVID-19 restrictions.
Looking ahead, large manufacturers expect their business sentiment index to slightly improve to 10 from nine in the next survey in December, while large non-manufacturers predict the reading to worsen to 21 from 27.
The latest poll was conducted between August 29 and September 29, covering 9,111 companies, of which 99.4 percent responded. (end)