Jiji Press TOKYO (Jiji Press) — Business sentiment in the country improved for the sixth straight month in November, led by the manufacturing industry enjoying brisk exports, a private-sector survey showed Tuesday.
The business sentiment diffusion index in November rose 0.9 points from the previous month to 50.0, hitting the second-highest level since the survey was launched in May 2002.
Indexes improved at seven of the 10 industrial sectors covered by the survey.
The index for the manufacturing sector rewrote a record high for the second straight month, reflecting strong performances by automakers and precision instrument makers.
Product quality data fabrication scandals unearthed recently at Kobe Steel Ltd. and several other companies had only a limited impact on the sector’s business sentiment, analysts said.
The indexes also improved at the construction sector, which has been enjoying strong demand related to the 2020 Tokyo Olympics and Paralympics, as well as the transportation and warehouse sector.
Looking ahead, the credit research firm said that the Japanese economy is expected to stay on a recovery trend on the back of continued strong exports.