TOKYO Ė The confidence of Japanís large manufacturing companies in the performance of the countryís economy remained stable in the fourth quarter, the Bank of Japan (BoJ) reported on Friday.
The central bankís quarterly economic outlook report, known as Tankan, indicated that the confidence index among large companies stood at 19 points at the end of the fourth quarter, the same as recorded in the third quarter.
The Tankan measures the percentage of companies that believe business conditions are favorable, minus those that think they are unfavorable, and is considered an important advance indicator of Japanís economic growth.
The figure stabilized after consecutive falls in the first three quarters of this year, amid fears for the Japanese economy concerning the extent of the trade war between the US and China.
The BoJ said the confidence index for the non-manufacturing sector rose two points to 24 compared to the third quarter.