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Tankan logs best reading in 13 years Confidence at large manufacturers improved to its highest level in 13 years in the three months to June, underlining the most powerful economic recovery since the economic bubble burst in the early 1990s, according to the results of the Bank of Japan's key business survey released July 1. The quarterly tankan showed the business confidence index for large manufacturers hit 22, up from 12 in the March survey and the fifth consecutive quarterly rise. The figure for June is the highest since August 1991, when the index stood at 25. With strong demand for Japanese digital cameras and other electronics products trickling through to the broader economy, the index for small manufacturers rose to plus 2 from minus 3 in March, its first positive reading since November 1991. The business confidence index represents the percentage of companies reporting conditions are good minus those reporting otherwise.
The Japan Times Weekly: July 10, 2004 |
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