Japan big manufacturers' mood improves in October-December: Govt survey

According to the joint survey by the Japanese Ministry of Finance and the Economic and Social Research Institute, an arm of the Cabinet Office, the optimism about Japan’s economic conditions among large Japanese manufacturers improved in the October-December quarter, in another upbeat sign for an economy on a record run of growth.

The business survey index (BSI) of sentiment at large manufacturers stood at plus 9.7, up from plus 9.4 in July-September.

Key Reasons cited via Reuters:

The mood was brightened by a weaker yen and a 12 percent jump in the Nikkei .225 stock average.

Sales and profits were up led by auto manufacturers and makers of electronic parts for smartphones.

A big contributor to growth during the quarter was capital spending.

The BSI measures the percentage of firms that expect the business environment to improve from the previous quarter minus the percentage that expect it to decline.