Confidence among Japan’s biggest manufacturers has risen for the third straight quarter to the best level in more than three years, a key central bank survey showed yesterday as exports continue to grow on a global economic recovery.
The Bank of Japan’s Tankan report—a quarterly survey of more than 10,000 companies—showed a reading of 17 among major manufacturers, the highest since the first quarter of 2014.The key index, which rose from 12 in the previous survey, also beat market expectations of a reading around 15. The country’s prospects have been improving on the back of strong exports, with investments linked to the Tokyo 2020 Olympics also giving the economy a shot in the arm.
