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Survey: Less pessimism by Japanese manufacturers

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By Megumi Fujikawa

TOKYO--Japan's large manufacturers were less pessimistic in the three months to September as economic activities gradually resumed amid the coronavirus pandemic, a central bank survey showed Thursday.

The main index measuring large manufacturers' sentiment was minus 27 in September, compared with minus 34 in the previous June survey, according to the Bank of Japan's quarterly tankan survey.

The index represents the percentage of companies who said business conditions were favorable minus those saying conditions were unfavorable.

This was the first improvement of large manufacturers sentiment in 11 quarters. The reading was slightly weaker than the forecast for minus 23 from a poll of economists by data provider Quick.

The index measuring large non-manufacturers' sentiment was at minus 12, compared with minus 17 in the June survey. Economists said the government's travel incentives provided some support for the services sector.

Write to Megumi Fujikawa at megumi.fujikawa@wsj.com

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