2 Minute Read by (Adds details, background) * Big non-manufacturers’ mood +1 in June vs -1 in March* Big manufacturers’ sentiment index +14 in June vs +5 in March* Japan’s recovery is widening, according to a survey. (Reuters) – TOKYO, July 1 (Reuters) – A central bank survey found that big manufacturers’ business confidence rose to a two-and-a-half-year high in the second quarter, indicating that strong global demand was assisting the economy’s recovery from the coronavirus pandemic’s doldrums. For the first time in five quarters, service-sector mood improved, indicating that the economic recovery was widening even as Japan battled a new wave of coronavirus infections. The Bank of Japan’s “tankan” survey for June indicated that the headline index for big manufacturers’ optimism increased to plus 14 from plus 5 in March, marking the fourth consecutive quarter of improvement and the highest level since December 2018. The mood index for large non-manufacturers rose to plus 1 from -1 in the previous survey, the highest result since March 2020. The tankan sentiment index is created by subtracting the percentage of respondents who think the situation is bad from those who say it is positive. Optimists outnumber pessimists in a positive reading. (Leika Kihara and Tetsushi Kajimoto contributed reporting; Christopher Cushing edited the piece.)/n
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