The confidence of largest manufacturers in Japan stood at 11-year high based on the survey from a key central bank released on Friday, this further shows that the economic growth pace of Japan’s economy climbed. The quarterly Tankan report from the Bank of Japan shows the highest reading of 25 major company indicated in its December poll. This report further indicates the differences in positive firms percentage between those with unfavorable conditions. The mood of major companies currently increased for the fifth consecutive quarter, supported by the optimistic outlook, as manufacturers plan to raise capital expenditure by 10.2 percent annually according to the poll. While non-manufacturers index came in at 23 which shows the same figure since October and marked the highest level since the last quarter in 2015. Moreover, the positive survey highlights the economic improvement of Japan amidst strong exports and investments relative to the Tokyo 2020 Olympics, which could provide an encouraging stimulus for the world’s third-biggest economy. The latest inflation rate of the country is 0.8 percent which is near the 2.0 percent target of the BoJ amid years of QE policy. Nevertheless, Japanese economy expanded by 0.6 percent during the third quarter and further shows significant gains after more than 20 years.
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