Recovery in Japan business mood stalls, capex to be cut: BOJ tankan

April 1, 2015 2:35 AM

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Recovery in Japan business mood stalls, capex to be cut: BOJ tankan

TOKYO (Reuters) - Weakening demand at home and abroad weighed on Japanese manufacturers' confidence in the first quarter, prompting them to cut spending plans, clouding the outlook for Prime Minister Shinzo Abe's drive to reflate the economy.

But the latest central bank survey showed service-sector firms saw business conditions improve to a nearly one-year high as they enjoyed lower oil costs and a surge in inbound tourism, underscoring the patchy nature of Japan's recovery.

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