Japan Business Confidence Worsens In Second-quarter: BOJ Tankan
Big Japanese manufacturers’ business sentiment worsened in the three months to June but is poised to improve in the following quarter, a central bank survey showed, adding to signs the economy will shrug off April’s sales tax hike. Big firms also plan to raise capital expenditure by 7.4 percent in the current fiscal year ending in March 2015, more than initially expected, as premier Shinzo Abe’s stimulus policies brighten prospects for the world’s third-largest economy. Big manufacturers expect business conditions to improve in the following quarter, underscoring the BOJ’s view that the pain from the higher tax will be temporary.
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