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Japan business confidence down in December quarter: BoJ

A picture in Tokyo on May 21, 2014 shows the Bank of Japan, whose Tankan survey showed confidence among large manufacturers edged downConfidence among major Japanese manufacturers edged down in the three months to December, a quarterly central bank survey showed Monday, underscoring the lacklustre state of the world’s third largest economy. The Bank of Japan’s closely watched Tankan survey showed confidence among large manufacturers stood at plus 12 against plus 13 in the September survey. Confidence among non-manufacturing companies rose to plus 16 from plus 13, delivering mixed news to Prime Minister Shinzo Abe’s ruling coalition that scored a big win in Sunday’s snap elections. “Today’s Tankan survey suggests that Japan’s economy stabilised in the fourth quarter, but a rapid recovery is not on the cards,” Marcel Thieliant, Japan economist at Capital Economics, said in a note.

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