Bank of Japan survey shows manufacturers optimistic about economy, as inflation abates

The Bank of Japan’s quarterly survey on business sentiment shows large Japanese manufacturers have grown more optimistic in the past several months, the third straight quarter of improvement even while other data showed the economy in a contraction. The central bank's “tankan” survey, released Wednesday, measured business sentiment among major manufacturers at plus 12, up from plus 9 in October and plus 5 in June. The tankan survey, conducted every three months, measures corporate sentiment by subtracting the number of companies saying business conditions are negative from those replying they are positive.