Business sentiment hit highest although Tokyo Olympics without spectators may worsen consumer sentiment
Japan’s business sentiment rises fourth straight quarters led by exports According to the Bank of Japan's latest “Tankan” quarterly survey released in June which shows a short-term economic outlook of enterprises in Japan, the index showing business sentiment of large manufacturing companies was plus 14 points, 9 points higher than the previous survey and improved for the fourth consecutive quarter. The index for large manufacturers was the highest in two and a half years since the December 2018 survey. The plethora of sectors in the large manufacturing industry remained optimistic thanks to the backdrop of increasing exports accompanying the recovery of overseas economies. For example, the index of general-purpose machinery sector such as turbines rose by 34 points and the index of electrical machinery by 28 points. On the other hand, the production of automobiles has deteriorated by 7 points due to the suspension of production at the factory due to the shortage of semiconduct