A quarterly survey by the Bank of Japan shows sentiment among manufacturers at its highest level in nearly three years. The results of the central bank’s “tankan” survey found sentiment among large manufacturers rose to 18 from 14. The reading for nonmanufacturers edged up only slightly, to 2 from 1. The world’s third-largest economy was in the doldrums even before the pandemic hit in several waves that have crimped business activity. Japan on Friday ended a state of emergency in many areas, including Tokyo, after new coronavirus infections began falling. That’s good news for the economy. However, the survey found that shortages of components such as computer chips may hinder the recovery.
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