BOJ survey gives mixed picture of Japan's economic recovery

[TOKYO] BUSINESS confidence among large Japanese manufacturing firms rose marginally and unexpectedly in September, said the Bank of Japan (BOJ) on Wednesday, even as confidence waned among non-manufacturers, with April's hike in the national consumption tax continuing to take its toll.

As with other recent indicators, the BOJ's latest Tankan survey - a widely-used study measuring confidence across some 10,000 businesses - provided a mixed picture of how the world's third-largest economy was recovering, and gave few clues on whether the Japanese central bank would carry out further monetary easing or whether another tax hike due next year might be imposed.

The Tankan index measuring the balance of optimism and pessimism in the corporate sector edged up to 13, from 12 in June for Japan's major manufacturers. The index for non-manufacturers fell more sharply than expected - from 19 three months ago to 13 in September.