TOKYO (AP) – Business sentiment is growing optimistically. A survey by the Aponia Bank on Thursday showed that the world’s third-largest economy continues to struggle with the effects of the coronavirus epidemic.
The Tank Index for the Major Manufacturers Survey was a plus of 5 as of March, a significant improvement over the minus 10 in December, more positive than the 4-plus forecast.
The results of the study show a steady recovery in the last three quarters before the start of COVID-19 in late 2019.
Tankan measures corporate sentiment by subtracting the number of companies that say business conditions are negative and respondents positive.
Among large non-producers, the mood improved by four points to minus 1, based on how the sector is going much slower than large producers.
Naoya Oshikubo, a senior economist at SuMi TRUST or Sumitomo Mitsui Trust Asset Management, said the recovery in the services sector was slower as the government-imposed “state of emergency” was periodically lifted and ended in March.
Export-led recovery is strong, while food, travel and housing are stalling, but the overall impact will be milder than in previous years, as the emergency only affected some parts of Japan.
“And, in general, people are used to COVID-19,” he said.
Last year, the coronavirus sent mood swings to Japan Inc., falling to levels last seen when the economy was hit by the financial crisis more than a decade ago.
Although some economic activity was restored to trade, tourism revenues, the main driver of growth in recent years, continue to be repaid due to border controls.
About 9,100 people died of COVID-19 in Aponia V. Vaccines have barely started,, less than 1% of the population has been vaccinated.
Concerns over the Tokyo Olympics, which are set to open in July, have been mounting since the recent Fourth Wave incident, with tens of thousands of people entering the country from abroad, including athletes, businessmen, government officials and the media.
Yuri Kageyama on Twitter https://twitter.com/yurikageyama