Japan's central bank survey finds less optimistic manufacturers, but happier service sector

A key Japanese central bank report says that sentiment among big manufacturers has sagged but optimism hit a three-decade high among large business outside the manufacturing sector. The Bank of Japan report issued Monday says sentiment among automakers, electronics giants and other large manufacturers declined in March for the first time in a year. The sector's index stood at plus 11, which was down two points from December. The index for large-scale non-manufacturers, including the service sector, was plus 34 points, which was up two points from December. The “tankan” report measures corporate sentiment by subtracting the number of companies saying business conditions are negative from those saying they are positive.