Japanese business confidence improved in the second quarter according to an official survey of business sentiment.
According to the Business Outlook Survey (BOS), published by the ministry of finance, the average sentiment level across all industries increased from minus 51.3 to minus 22.4 in the second quarter of this year.
Among manufacturers, sentiment rose from minus 66 in the last quarter to minus 13.2. Sentiment in the non-manufacturing sector rose too, pushing the index from minus 42.6 to minus 27.8.
The BOS predicts sentiment among companies will further improve to minus 2.6 in the third quarter of this year and a positive 8.7 for the end of 2009.