The decline in corporate sentiment among large manufacturers slowed for the first time in five quarters but remains weak overall, according to the Bank of Japan's quarterly "tankan" survey released Monday.
The diffusion index for large manufacturers came to minus 38, the same as the previous quarter, fueling hopes that one of the sputtering main engines behind the global economy is ready to bottom out thanks to a turnaround in exports.
The diffusion index shows the percentage of companies who view business conditions as good minus the percentage of companies who say conditions are bad.