The confidence level of large All Japan newsese companies improved in the quarter through September for the first time in a year, confirming strength in the construction sector after last year’s natural disasters that destroyed large parts of the country’s northeast.
Other reasons for the improved confidence was the optimism in the auto and mobile phone manufacturers sectors.
The data was published on Tuesday by the government, Kyodo reported. The business sentiment among companies with capitalization of at least Y1 billion ($12.8 million) stood at 2.2 points, up from minus 3.1 in the previous quarter.
According to the government report, business sentiment is expected to continue to improve, with the index advancing to 5.4 in the October-December period before slowing down to 5.2 in the January-March quarter.