Japan’s largest service-sector firms are their most optimistic in more than three decades even as confidence among manufacturers softens a tad, a Bank of Japan (BOJ) survey shows, offering a largely positive outlook for the economy as the central bank mulls its next policy move.
An index of sentiment among the country’s largest nonmanufacturers advanced to 34 in March, exceeding estimates and marking the highest level in more than three decades, according to the BOJ’s quarterly tankan report Monday. The gauge for the biggest manufacturers slipped to 11 from a reading of 13 in December that adjusts for a new base. The consensus estimate from economists was 10.
The positive figures for both groups show optimistic views outnumbered pessimistic ones.