Japanese manufacturers' mood probably improved in the three months to March but it will likely weaken the following quarter due to concerns that a sales tax hike may dent the pace of the economic recovery, a Reuters poll showed. That would be the fifth straight quarter of improvement as consumers rush to beat the rise in the sales tax on April 1, and amid Prime Minister Shinzo Abe's efforts to boost the economy with his stimulus monetary policy and big fiscal spending. "Although last-minute demand before the sales tax hike is expected, the areas of benefiting from it don't seem to have widened much," said Hideo Kumano, chief economist at Dai-ichi Life Research Institute said in his report. The business mood among both big manufacturers and non-manufacturers is expected to weaken over the next three months as they fear the sales tax increase to 8 percent from 5 percent could dampen private consumption.
via Business News - Yahoo Finance http://ift.tt/1jm5Wjt
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