Japan big manufacturers' confidence drops to three-year low

A Lexus vehicle is being assembled on the production line of Japanese auto giant Toyota Motor's plant in Miyata, Fukuoka prefectureConfidence among Japan's biggest manufacturers has dropped to a three-year low, a closely watched survey showed on Friday, the weakest since Prime Minister Shinzo Abe's growth blitz, dubbed Abenomics, kicked into high gear in early 2013. The disappointing reading for the Bank of Japan's quarterly Tankan report will heap more pressure on policymakers to unleash another round of stimulus, as evidence of a slowdown in the world's number three economy piles up. The BoJ report showed that sentiment among major manufacturers came in at plus six in March, weaker than market expectations and way down from a plus 12 reading the previous quarter.

Source: Yahoo News