TOKYO – A quarterly survey of business sentiment by Japan's central bank shows that manufacturers are more upbeat about the state of the world's third-largest economy under Prime Minister Shinzo Abe's recovery program.
The Bank of Japan's "tankan" business confidence index rose to 16 for large manufacturers from 12 in September, the last time the survey was taken. The results were released Monday. That was the fourth straight improvement in sentiment.
Abe has made monetary easing, public works projects and structural reforms the center of his "Abenomics" recovery strategy.
The yen has fallen dramatically after he took office a year ago, delivering a boost for Japan's vital manufacturing exporters.
The bank surveyed 10,509 companies, which responded between Nov. 14 to Dec. 13.