() - The Bank of Japan’s quarterly Tankan survey showed on Friday that the large manufacturers’ index came in with a score of 6 in the first quarter of 2011. That beat expectations for a score of 5, which would have been unchanged from the fourth quarter of 2010.

The outlook for the second quarter saw a score of 2, showing improvement for the first time in two months following a -2 in Q4.

The non-manufacturing index for the first quarter posted a score of 3, beating expectations for a reading of 2 and topping the score of 1 in the fourth quarter. The non-manufacturing outlook came in at -1 versus forecasts for a score of 0 after showing -1 three months earlier.

Large industry capex is now expected to fall 0.4 percent in the current fiscal year – well below expectations for an increase of 1.8 percent. In the previous survey, capex was expected to rise 2.9 percent.

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