Sentiment of Japan’s big manufacturers improves for first time in 7 quarters

TOKYO — Sentiment among Japanese large manufacturers improved for the first time in seven quarters during the three months to June thanks to eased supply constraints.

The main index for sentiment among large manufacturers was +5, compared with +1 in March and economists’ forecast for +3, according to the Bank of Japan’s quarterly Tankan corporate survey released Monday.

The index represents the percentage of companies who said business conditions were favorable minus those who said conditions were unfavorable.

Big companies plan to increase their capital expenditure by 13.4% for the fiscal year ending March 2024, compared with plans for a 3.2% increase projected in the previous survey.

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