Japan business survey shows slight improvement in outlook for manufacturers

AP Business Writer

BANGKOK (AP) — A quarterly survey by Japan’s central bank shows business sentiment among manufacturers has improved slightly, especially in major heavy industries such as automaking, fossil fuels and machinery. The survey by the Bank of Japan, called the tankan, is a factor the central bank takes into account in assessing its monetary policy stance. The lackluster result undermined expectations it might raise its key interest rate next week. The sentiment index for large manufacturers rose to 14 from 13 in September, according to the survey which shows the difference between companies saying they are optimistic about business conditions and those that are pessimistic. Japan’s economy grew at a revised 1.2% annual pace in July-September, helped by sustained consumer spending.