Confidence among a wide range of Japanese companies picked up in the fourth quarter, sending a positive signal to the Bank of Japan ahead of next week¡¯s policy decision.
An index of sentiment among the country¡¯s biggest manufacturers rose to 12 in December from 9 three months earlier, the third straight gain, according to the BOJ¡¯s quarterly tankan report released Wednesday. The reading beat economists¡¯ forecast of 10.
The business mood among the largest nonmanufacturers also improved from 27 to 30, exceeding economists¡¯ expectations and setting a fresh 32-year high. A positive figure means optimists outnumber pessimists.
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