More than 70% of major Japanese companies expect the domestic economy to grow in 2024, believing solid consumer and capital spending are set to overcome the impact of inflation, a Kyodo News survey showed Tuesday, indicating more optimistic corporate sentiment than a year earlier.
In the survey of 113 companies, including Toyota Motor and SoftBank Group, 72% said they expect moderate growth and 1% see solid expansion in 2024.
The combined 73% is higher than a year before, when 56% said they expected moderate or solid growth even as soaring raw material and energy prices represented significant risk factors.