Japanese business sentiment inched up in the three months ending March, a central bank survey showed, but confidence is slated to weaken sharply as major manufacturers grow more cautious of the impact of the sales tax hike.
The headline index of confidence among large manufacturers rose by one point to plus 17 in the March quarter, according to the Bank of Japan’s closely watched tankan survey, revealed Tuesday. The figure reached its highest level since December 2007 but fell short of the median market estimate of plus 18.
Big service-sector sentiment also improved by four points to plus 24, matching the median market forecast, as consumers rushed to splurge ahead of the April 1 sales tax increase.
Prema Japanskoj Središnjoj Banci i indeksu poslovne klime Tankan, objavljenom u utorak, pouzdanje velikih poduzeća poraslo je za cijeli postotni bod na plus 17 u prvom kvartalu godine.
To je najviši nivo od decembra 2007, ali je još uvijek niži od središnje tržišne procjene, koja iznosi plus 18.
Pouzdanje velikog sektora usluga je poraslo za 4 boda na plus 24, što odgovara središnjoj tržišnoj procjeni. Potrošači su iskoristili dane za razmetavanje pred prvoaprilskim povećanjem poreza.