Japanese business confidence improved in the last quarter. AFP/CNA reports:
Japanese business confidence has reached its highest level in two years, as the world's number two economy continues to recover from its worst slump in decades, the Bank of Japan said Thursday.
The index of sentiment among major manufacturers rose for a fifth straight quarter to one point in June from minus 14 in March, according to the central bank's closely watched Tankan survey of more than 11,000 firms...
Large manufacturers and non-manufacturers plan to boost capital spending by 4.4 per cent in the fiscal year that began in April, better than the 0.4 per cent decline forecast in March and a revised 17 per cent cut in the previous year.
The Tankan was about the only major economic indicator released on Thursday to show improvement though.
China reported slower manufacturing activity in June. Again from AFP/CNA:
The HSBC China Manufacturing PMI, or purchasing managers index, fell to 50.4 last month from 52.7 in May, the bank said...
A separate survey released by a government agency on Thursday showed manufacturing activity slowed to 52.1 in June from 53.9 in May.
In Europe, the Markit eurozone manufacturing PMI fell to 55.6 in June from 55.8 in May, confirming the earlier flash estimate, while the UK manufacturing PMI fell to 57.5 last month from 58.0 in May.
Data from the US also indicated a weaker economic outlook. Bloomberg reports:
The Institute for Supply Management’s manufacturing gauge fell more than forecast to 56.2 last month from 59.7 in May...
First-time filings for jobless benefits rose 13,000 last week to 472,000, the Labor Department said today...
The number of contracts to purchase previously owned houses plunged 30 percent in May, more than twice as much as forecast, after a homebuyer tax credit expired, the National Association of Realtors said today.
A separate report from the Commerce Department showed construction spending fell 0.2 percent in May, the first decline in three months, as homebuilders cut back and work on factories and transportation structures decreased.
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