Japan’s recovery remains intact

But in a worrying sign, service-sector sentiment turned pessimistic, as firms struggled with the fallout from the coronavirus crisis, according to the poll, which tracks the Bank of Japan’s (BoJ) (pic) closely watched tankan quarterly survey.

TOKYO: Japanese manufacturers’ business confidence rose in July to hit a more than two-and-a-half-year high, as the country’s export-driven recovery remained intact thanks to solid global demand, the Reuters Tankan poll showed.

But in a worrying sign, service-sector sentiment turned pessimistic, as firms struggled with the fallout from the coronavirus crisis, according to the poll, which tracks the Bank of Japan’s (BoJ) closely watched tankan quarterly survey.