Japan small business confidence improves in November

Confidence among medium and small businesses in Japan increased in November, figures released on Wednesday showed.

According to data published by the Shoko Chukin Bank, the small business confidence index rose to 49.9 in November, the highest level since March this year, from 48.7 in the previous month.

The sub-index measuring confidence in the manufacturing sector rose to 49.6% in November from 48.1 in October, while the gauge tacking morale for the non-manufacturing sector improved for the first time in three months in November, rising to 50.2 from 49.1.

"The rise in small business confidence adds to the evidence that activity will rebound this quarter," said Marcel Thieliant, Japan economist at Capital Economics.

Meanwhile, the overall business confidence index for December is forecast to decline to 48.4, while the manufacturing confidence index is expected to drop to 46.9 and the non-manufacturing confidence to fall to 49.6.