Sentiment among large Japanese manufacturers saw an improvement in the second quarter, although it remained in negative territory, according to the Ministry of Finance's quarterly survey released on Thursday.
The Business Survey Index (BSI) for large manufacturers increased to -1.0 in the second quarter, up from -6.7 in the previous quarter. Analysts had expected a reading of -5.2.
Conversely, the BSI for non-manufacturing companies dropped to 1.1 from 3.2. Consequently, the overall industry BSI rose to 0.4, compared to 0.0 in the first quarter.
Both manufacturers and non-manufacturers anticipate better business conditions in the third quarter of 2024. The outlook index for manufacturers is projected at 9.2, while non-manufacturers foresee a score of 5.4.
