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Japan business confidence hits decade high: BOJ

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Confidence among Japan’s biggest manufacturers has jumped to its highest level in a decade, a key central survey showed on Monday, as the world’s number three economy picks up pace. The Bank of Japan’s Tankan report — a closely watched quarterly survey…
Confidence among Japan’s biggest manufacturers has jumped to its highest level in a decade, a key central survey showed on Monday, as the world’s number three economy picks up pace.
The Bank of Japan’s Tankan report — a closely watched quarterly survey of more than 10,000 companies — showed a reading of 22 among major manufacturers in its latest report, the highest since its September 2007 reading when the headline figure sat at 23.
The latest survey handily beat market expectations for a reading of 18.
The report, the broadest indicator of how Japan Inc is faring, marks the difference between the percentage of firms that are upbeat and those that see conditions as unfavourable.

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