Confidence among a wide range of Japanese companies picked up in the fourth quarter, sending a positive signal to the Bank of Japan ahead of next week’s policy decision.
An index of sentiment among the country’s biggest manufacturers rose to 12 in December from 9 three months earlier, the third straight gain, according to the BOJ’s quarterly tankan report released Wednesday. The reading beat economists’ forecast of 10.
The business mood among the largest nonmanufacturers also improved from 27 to 30, exceeding economists’ expectations and setting a fresh 32-year high. A positive figure means optimists outnumber pessimists.