© Reuters. FILE PHOTO: Nissan Motor Co., Ltd's Universal Powertrain Mounting System with a two-layer pallet structure, compatible with EV, e-POWER and gasoline vehicles is pictured in Kawachi-gun, in Tochigi prefecture, Japan October 8, 2021. REUTERS/Maki Shira
The headline big manufacturers' confidence index rose to 9 in September from 5 in June, the Bank of Japan's closely-watched"tankan" survey showed, compared with a median market forecast for a reading of 6. Big firms expect to increase capital expenditure by 13.6% in the current fiscal year ending in March 2024, matching market estimates, the survey showed.
Japan's economy expanded an annualised 4.8% in April-June as robust exports offset weaknesses in consumption. But analysts expect a mild contraction in the July-September quarter as sluggish global demand weigh on exports.