Big manufacturers in Japan turn upbeat on Q3 business conditions

Tokyo

BIG Japanese manufacturers turned optimistic about business conditions in the third quarter and companies revised up their capital expenditure plans, a government survey showed on Tuesday, in a sign the economy is gaining momentum.

Large manufacturers said they expect sentiment to improve further in October to December, an encouragement to policymakers as they try to re-energise domestic demand and avoid a return to deflation.

The survey results could offer some relief to the embattled Bank of Japan (BOJ), which will hold a monetary policy meeting next week. The upgrade of capital expenditure plans also shows that the central bank's ef…