Sentiment of big Japanese manufacturers rose for the first time in four months in December, and the service-sector mood hit a three-year high, a Reuters monthly poll found, in a sign of gradual recovery from COVID-19 doldrums.
Reflecting uncertainty in the outlook, however, the monthly poll, which parallels the Bank of Japan's (BOJ) tankan quarterly survey, found large manufacturers expected business conditions to hold steady in the coming three months, while the service sector had a worsening outlook.
The mixed readings underscored the uneven nature of Japan's recovery from the pandemic, as a slowdown in China raises the risk of a global downturn while a possible COVID-19 resurgence in Japan clouds the outlook.