Business confidence measured by the Bank of Japan (BoJ)'s tankan survey was expected to recede slightly in three months to December and stay subdued in the coming quarter, a Reuters poll found, reflecting China's slowdown and lacklustre domestic demand.
Big firms are expected to reduce their capital spending plan for this fiscal year slightly, but it will probably remain solid - underpinned by good corporate earnings.
"The economy remained at a standstill. Although the GDP data was revised up to plus (in the third quarter), the pace of growth has not picked up. The tankan data will probably reflect that," said Tatsushi Shikano, deputy chief economist at Mitsubishi UFJ Morgan Stanley Securities.
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Big firms are expected to reduce their capital spending plan for this fiscal year slightly, but it will probably remain solid - underpinned by good corporate earnings.
"The economy remained at a standstill. Although the GDP data was revised up to plus (in the third quarter), the pace of growth has not picked up. The tankan data will probably reflect that," said Tatsushi Shikano, deputy chief economist at Mitsubishi UFJ Morgan Stanley Securities.
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