Japanese manufacturers' mood ascends to pre-financial crisis level

Japanese manufacturers' mood ascends to pre-financial crisis level

Confidence among Japanese manufacturers has soared for an eighth straight month to a level not observed since before the 2008 global financial downtime, as a Reuters poll found, reflecting output as well as export revenues led by overseas economic revival.

The Reuters' monthly survey, tracking the Bank of Japan's major quarterly tankan also demonstrated that confidence at service-sector companies reached a three-month peak, a sign that the effects of an export-led economic revival are gradually spreading.

The Reuters Tankan illustrates the signs of life Japan's economy has demonstrated in recent months because global demand has revived notwithstanding the weakness in private consumption, which constitutes approximately 60% of the Japanese economy.

In the survey of 529 large as well as mid-sized companies, conducted between April 4-17, with 261 responded, in April the sentiment index for manufacturers inched up one point to 26, led by manufacturers of items, including metals, food and machinery.

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