Monday, April 01, 2013


"The results of a closely watched business confidence survey in Japan showed that despite a surge in stock prices and a steep fall in the yen, Japanese manufacturers are still largely in a pessimistic mood.
The Tankan survey, Bank of Japan's (BOJ) key economic indicator, came in at minus 8 for the January to March quarter instead of the anticipated minus 7 level. Though the reading was the best in three quarters it was still in negative territory showing that there are more pessimists than optimists among the manufacturers surveyed.
This contrasts with a 34 percent rally in the Nikkei 225 since November when Shinzo Abe, Japan's new prime minister, started pushing for aggressive monetary policy and economic stimulus to end deflation and spur growth. "

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