An index measuring business sentiment in Japan surged in the second quarter of 2012, the Bank of Japan revealed on Monday in its quarterly Tankan business survey.
The large manufacturers index came in with a score of 4, beating forecasts for a 3 and up from -8 in the first quarter. The outlook score was 10, also beating expectations for a 7 and up from -1 in the previous three months.
The large non-manufacturers index was at 12, surpassing expectations for 11 and up from 6 in Q1. The outlook score was 12 versus forecasts for 14 and up from 9 in the three months prior.
Large all-industry capex is now seen at 5.5 percent, well above forecasts for 2.9 percent after falling 2.0 percent in the previous quarter.
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