japan business confidence rises again
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Japan business confidence rises again

Egypt Today, egypt today

Egypt Today, egypt today Japan business confidence rises again

the broadest indicator of how Japan Inc is faring and surveys more than 10,000 companies
Seoul - AFP

Confidence among Japan's biggest manufacturers has risen for the second straight quarter, a key central bank survey showed Monday, a welcome boost for the world's third-largest economy.

The report comes after a batch of government data on Friday showed inflation and factory output picked up in February while the unemployment rate dipped to a two-decade low.

Japan has been struggling to mount a firm economic recovery and put years of on-and-off deflation in the rear view mirror.

The Bank of Japan's Tankan report -- a quarterly survey of more than 10,000 companies -- showed a reading of 12 among major manufacturers, rising from 10 in the previous survey.

That is the strongest level since the same reading for the final quarter of 2015 report but fell short of the median forecast of 14 in a survey by Bloomberg News.

"While today's Tankan survey showed that business conditions for large manufacturers did not improve as much as most had anticipated, the survey suggests that growth will remain strong for now," Marcel Thieliant, senior Japan economist at Capital Economics, wrote in a note.

The report, which is closely watched for being the broadest indicator of how Japan Inc is faring, showed that businesses had estimated a weaker yen for the just ended fiscal year.

A weaker currency is positive for Japanese exporters as it makes their products more competitive abroad and inflates repatriated profits.

The average predicted exchange rate by large manufacturers for the fiscal year that ended last month was 107.30 yen against the dollar, which is weaker than the 104.90 yen forecast in the previous report.

The rate is what companies use internally for business planning and often deviates from current market exchange rates.

The companies also forecast further weakness in the currency in the current fiscal year that started Saturday. They see the Japanese currency at 108.43 to the dollar.

The yen was trading at 111.20 to the dollar on Monday, compared with 111.31 yen in New York on Friday afternoon and 111.87 yen in Tokyo earlier.

Confidence among small- and mid-sized firms also strengthened in the latest survey.

The BoJ's report is likely to take some pressure off the central bank to launch more easing measures when its policy makers meet this month.

The yen plunged in November against the greenback on hopes for US President Donald Trump's economy-boosting agenda.

Abe swept to power in late 2012 on pledge to cement a lasting recovery with a growth plan eponymously dubbed Abenomics.

The scheme -- a mix of aggressive monetary easing and huge government spending along with reforms to the economy -- stoked a stock market rally as it weakened the yen and fattened corporate profits, but the effect on the wider economy has been less dramatic.

source: AFP

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

japan business confidence rises again japan business confidence rises again



GMT 06:29 2011 Monday ,14 November

Matthew cruises to win at Ochoa Invitational

GMT 03:34 2017 Wednesday ,22 March

Tillerson to skip NATO meeting next month

GMT 13:44 2013 Friday ,15 March

Israel suppress Palestinian demonstrations

GMT 16:15 2017 Monday ,01 May

Moroccan Workers’ Syndicate

GMT 11:56 2016 Wednesday ,12 October

Toyota, Suzuki eye partnership as industry consolidates

GMT 15:42 2011 Thursday ,23 June

Express checks in with foursquare

GMT 10:49 2017 Sunday ,13 August

Car rams into crowd at violent Virginia rally

GMT 17:45 2013 Sunday ,20 October

5 Indian spices that are good for your health

GMT 08:41 2012 Saturday ,15 September

Italian magazine: will print Kate topless snaps

GMT 08:02 2012 Tuesday ,05 June

Zoe Saldana in Prabal Gurung

GMT 06:11 2012 Saturday ,15 September

Tunisia’s Media Conflict: Journalists fight for freedom

GMT 14:35 2015 Friday ,24 July

Awqaf Minister hails New Suez Canal project

GMT 16:34 2017 Thursday ,28 December

Hitler's Nazi-parade Mercedes set

GMT 11:22 2011 Monday ,10 October

Paul McCartney to play in Moscow in December

GMT 05:17 2015 Friday ,25 September

Pope expresses solidarity with Muslims after stampede

GMT 05:44 2012 Saturday ,21 April

ATV engine 95 HP

GMT 03:01 2011 Monday ,19 September

Laughter, tears at US television\'s Emmy awards

GMT 12:04 2012 Wednesday ,07 March

6 Music animation draws on 10 years of eclectic radio

GMT 01:00 2015 Sunday ,05 April

Barzani congratulates Abadi on Tikrit victory

GMT 13:24 2015 Thursday ,15 October

Tesla installs 'autopilot' update

GMT 06:17 2012 Monday ,02 January

Countries across the world celebrate the New Year

GMT 04:07 2016 Tuesday ,07 June

For new era of self-driving cars

GMT 08:21 2017 Saturday ,23 December

Saudi-Sudanese Deal to Ease Transfers

GMT 11:08 2017 Thursday ,21 December

Asian markets mostly down as tax cut euphoria wanes
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday