Japan manufacturer sentiment down for 1st time in 7 qtrs as costs bite

Business confidence among major Japanese manufacturers worsened for the first time in seven quarters in March, hurt by energy and raw material costs that surged on Russia's invasion of Ukraine and pandemic-related supply bottlenecks, the Bank of Japan's Tankan survey showed Friday.The key index measuring sentiment among companies such as automakers and electronics makers dropped to 14 in March from 17 logged three months earlier, the lowest level since June 2021. It was above the average market forecast of 11 in a Kyodo News survey.The index for large nonmanufacturers, including the service…READ FULL ARTICLE