TOKYO : Confidence among Japan's large service-sector firms improved in the three months to December, a closely watched central bank survey showed, suggesting the economy was gradually emerging from the hit of the coronavirus pandemic.
The outcome offered a mixed picture for policymakers seeking to reflate Japan's fragile economy by maintaining ultra-loose monetary policy and a massive pandemic-relief spending package. An index gauging big non-manufacturers' sentiment rose to plus 9 from plus 2 three months ago, the survey showed, in a sign the Sept. 30 lifting of state of emergency curbs to combat the COVID-19 pandemic was helping lift consumption. It compared with market forecasts for a reading of plus 6.
The survey was conducted from Nov. 10-Dec. 10 with most of the replies coming in by Nov. 29, a BOJ official told a briefing.
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