Tokyo, July 01 (QNA) – Sentiment improved at major manufacturers for the fifth straight quarter despite analyst concerns over business being affected by the Middle East.
The sentiment index for large manufacturers came in at +22 points, up 5 points from the previous survey, revealed the quarterly Tankan survey shared by NHK World-Japan.
The statistics revealed more companies are optimistic about business conditions than pessimistic.
Confidence improved in the machinery sectors thanks to robust demand for artificial intelligence and chip-related equipment, showed the survey covering about 9,000 companies.
In contrast, sentiment took a hit in the petroleum and coal sector due to the situation in the Middle East, with little impact on the overall index.
The index for large non-manufacturers improved for the first time in five quarters at +37, up 1 point.
Looking three months ahead, confidence at major manufacturers declined 5 points. The same measure at large non-manufacturers fell 9 points. (QNA)