Japan’s small business confidence suggests recovery will remain sluggish

Japan's small business confidence weakened in April and remains consistent with sluggish activity in the manufacturing sector.

The headline index of business conditions in today's Shoko Chukin survey dropped from 49.8 in March to 47.4 in April. 

Admittedly, this followed a 3.3 point jump a month ago, on past form, the index remains consistent with sluggish industrial activity.