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Bank of Japan's 'tankan' business survey shows optimism over recovery

The BOJ's 'tankan' released recently reported rebounds in all categories, both manufacturing and nonmanufacturing companies, large and small

twitter-logoAssociated Press | December 17, 2020 | Updated 10:26 IST
Bank of Japan's 'tankan' business survey shows optimism over recovery
Japan's economy expanded at a 22.9 per cent annual rate in the last quarter, as businesses and personal spending recovered from the pandemic-related shocks

Aquarterly survey by the Bank of Japan shows business sentiment has improved sharply with expectations that the economy is recovering from a year-long recession.

The BOJ's 'tankan' released recently reported rebounds in all categories, both manufacturing and nonmanufacturing companies, large and small. It was a marked improvement from the past several quarterly reports as Japan battled the coronavirus pandemic.

The tankan measures corporate sentiment by subtracting the number of companies saying business conditions are negative from those responding they are positive.

Japan's economy expanded at a 22.9 per cent annual rate in the last quarter, as businesses and personal spending recovered from the pandemic-related shocks in the spring and early summer that worsened a recession that started in late 2019, even before coronavirus outbreaks hit.

Also read: New financial instruments to fill $28 billion COVID-19 funding gap: WHO

Also read: Global cost of coronavirus: $11.7 trillion

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