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The Japanese manufacturing industry continues to show signs of recovery after the pandemic. For the second consecutive quarter, confidence in the future is increasing among companies in the country, although development is slow and most companies remain pessimistic.
This is demonstrated by the latest compilation of the influential central bank Tankan report. The Tankan Index of Japan’s Largest Companies rose to minus 10 in December, from minus 27 in the previous quarter. Six months ago, the index was at minus 34, which was the lowest since June 2009.
A negative number means that more companies are pessimistic than optimistic about the future. Despite continued negative numbers, the increase for the fourth quarter of 2020 was still higher than analysts’ forecasts, which were minus 15.
After three-quarters of the contraction in the economy, Japan managed to rebound from last month’s recession. Since then, however, the spread of Covid-19 has accelerated again, with a record number of new cases in recent weeks.
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