TOKYO -Big Japanese manufacturers remained pessimistic in April for a fourth straight month as jitters over Western banks added to slowing global growth, the monthly Reuters Tankan survey showed on Wednesday, dimming prospects for an export-led recovery. However, it also showed the service sector mood improved for a second straight month to a four-month high, signaling a post-COVID economic recovery led by inbound tourism, which has boosted restaurants and retailers. 'The survey confirmed the economy is on track for a post-coronavirus recovery backed by service-sector firms, although manufacturers are affected by a slowdown in global demand,' said Yoshimasa Maruyama, chief economist at SMBC Nikko Securities.

https://business.inquirer.net/396587/big-japanese-manufacturers-remain-gloomy-as-external-demand-ebbs-survey

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