Japan's manufacturers are very optimistic in a decade as economy surges

In August, confidence at Japanese manufacturers tacked on to its highest value in nearly a decade led by producers of industrial materials, as a Reuters survey informed, in a further indication of broadening economic revival.

The Reuters' monthly survey, tracking the BOJ’s closely watched quarterly tankan – discovered that the service-sector mood went down, while still staying at a relatively high level, thus underscoring the overall firmness in domestic demand that underpinned robust expansion in the second quarter.

Business sentiment was about to plunge moderately over the next three months, showing a potential pullback from the 4% annualized surge in the April-June quarter powered by private consumption as well as capital expenditure.

In August, the sentiment index for manufacturers rallied just one point to 27 in the survey of 548 large- as well as mid-sized companies. The poll was conducted during the period of August 1-16. Up to 265 companies were responded.

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