Friday, 1 October 2004

Business confidence in Japan improves

The Bank of Japan's quarterly "tankan" survey shows that the diffusion index (DI) for large manufacturers improved to plus 26 in September from plus 22 in June, better than the market's consensus forecast of plus 23. However, the DI for the outlook three months ahead came in at plus 21, suggesting that the recovery may slow.

The index for major nonmanufacturers improved to 11 from 9 in June.

The tankan DI is derived by subtracting the percentage of companies downbeat about their business conditions from that of those that are upbeat.

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