Japan's business confidence rebounds to pre-pandemic levels

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More manufacturers are starting to see business conditions in the country as favourable. FMTNews Japan Economy PrePandemic

People walk on pedestrian crossings in the Shibuya area of Tokyo early this year.

The Bank of Japan’s Tankan business survey, a quarterly poll of about 10,000 companies, showed a reading of 5 among big manufacturers. The upbeat reading beat a market consensus estimate of minus 1 and is the first positive reading since September 2019, before the coronavirus began to wreak havoc on the world’s economy.

Despite a spike in Covid-19 infections over the winter, Japan has seen a comparatively small outbreak overall with around 9,000 deaths, and has avoided imposing the blanket lockdowns seen in other countries.

 

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