Japanese Big Makers' Business Confidence Up 1St Time In 2 Qtrs

(MENAFN- Kuwait News Agency (KUNA)) TOKYO, July 1 (KUNA) -- Business confidence among major Japanese manufacturers improved from three months ago in June, marking the first improvement in two quarters, the Bank of Japan said Tuesday.
The central bank's quarterly survey showed the business sentiment index among big manufacturers, such as automakers and electronics makers, edged up to plus 13 in June, compared with 12 in the previous March survey.
By industry, the index of the iron and steel sector, as well as the pulp and paper sector showed an improvement, while the auto industry deteriorated due to the impact of US tariffs.
Confidence among large retailers, banks, real estate companies and other non-manufacturers worsened by one point to plus 34, the first decline in two quarters, on concern over rising sales prices and the outlook for consumption.
The headline index represents the percentage of companies, which are positive about their business minus the percentage of those who gave negative replies. Thus, a positive number means optimists outnumber pessimists.
The "tankan," which means short-term economic outlook, is the most closely watched index of business confidence for the world's third-largest economy.
Looking ahead, large manufacturers expect their business sentiment index to worsen by 1 point to plus 12 in the next survey in September, while major non-manufacturers predict a 7-point drop to plus 27.
The latest poll was conducted between May 28 and June 30, covering 8,911 companies, of which 99.2 percent responded. (end)
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