Japan business mood improves as auto woes ease but inflation weighs

The business sentiment index for major Japanese manufacturers rose two points to 13 in June, marking the first improvement in two quarters as the impact of an auto safety data-rigging scandal eased, but rising costs cast a shadow over the outlook, Bank of Japan data showed Monday.The index among nonmanufacturers, including service providers such as hotel operators, worsened to 33 in June from 34, the first fall in 16 quarters after a strong run of improvement mainly driven by a revival of inbound tourism. Many companies now cite concerns about inflation and labor shortages, according to the…READ FULL ARTICLE