Japan Corporate Sentiment Gains Seen Short-Lived as Tax Rises
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Sentiment among large Japanese manufacturers rose to the highest level since 2007, a gain that may be short-lived as today’s sales-tax increase weighs on consumption and confidence.
The Tankan index was at 17 in March, climbing from 16 in December, a Bank of Japan report showed today, below the median estimate of 19 in a Bloomberg News survey of economists. The index is forecast to drop to 8 in June, worse than economists’ forecast of 13.