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Japan business confidence up after almost 2 years

June 30. 2013 9:38PM
Associated Press

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(AP) The Bank of Japan says business sentiment among major manufacturers has turned positive for the first time in nearly two years.

The central bank's closely-watched quarterly "tankan" survey for June showed Monday that the index for major manufacturers rose to positive 4 from negative 8 in March. It was the first survey to be higher than zero since September 2011.

A positive reading means more companies are optimistic than pessimistic.

The index for major non-manufacturers rose to 12 from 6 in the last survey.

The improvement comes amid a weakening yen, which boosts overseas income for Japan's key exporters, and a series of aggressive economic policies moentary easing and boosting public workers projects by Prime Minister Shinzo Abe since he took office in December.

Associated Press

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