A key survey of Japan’s largest manufacturers showed Monday that business confidence rose for the first time in two quarters, while revised data showed the economy contracted further.
The poll reports the difference between the percentage of firms that are upbeat and those not — with a positive figure meaning more businesses feel optimistic. Separately on Monday, government data showed gross domestic product shrank 0.7 percent in the first three months of 2024, compared with the previous estimate of a 0.5 percent contraction.
Monday’s Tankan survey showed that among non-manufacturers, confidence fell to plus 33 from 34, in line with expectations — marking the first decline in the past 16 quarters.
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