BoJ Tankan: Large Manufacturers Index Improves To +5 In Q1
TOKYO (dpa-AFX) - Large manufacturing in Japan saw some improvement in the first quarter of 2021, the Bank of Japan's quarterly Tankan Survey of business sentiment showed on Thursday with a diffusion index score of +5.
That beat forecasts for a reading of 0 as expectations were very soft because of the global Covid-19 pandemic. The Q1 reading was up from a score of -10 three months ago.
The outlook came in at +4, matching expectations and up from -8 in the previous quarter.
Large all industry capex is now seen higher by 3.0 percent, beating forecasts for a gain of 1.4 percent following the 1.2 percent contraction in the previous three months.