Japanese Business Confidence Highest in 3 Years

Japanese business confidence rose to its highest in more than three years in September, and companies are plowing rising profits back into their businesses. While that’s boosting economic growth, the pace of the recovery is poised to slow, analysts said. The Bank of Japan’s quarterly tankan survey showed confidence among large manufacturers rose to 10 points in September from 3 in June. The index, which subtracts the percentage of companies that are pessimistic about their outlook from those that are optimistic, was expected to rise to 7, after turning positive in June for the first time in almost three years.