According to a quarterly report released today by the Bank of Japan, business confidence is at a 2-year high in the world’s second-largest economy.
The “tankan” survey of business sentiment showed that confidence among Japan’s biggest manufacturers improved for a fifth straight quarter – in large part due to Asia’s rapid rebound from the global recession, which has increased demand for the country’s exports of consumer goods.
Large companies surveyed by the tankan indicated that they planned to increase capital investments by 4.4 percent this fiscal year through March 2011. Last year, capital investments declined 17 percent.
Reference Sources: Financial Times, MarketWatch