A Japanese government survey shows that business sentiment among major companies remained positive for the third straight quarter. The Finance Ministry says the results reflect a moderate recovery in the country's economy.

The survey's index on business conditions stood at 4.8 for the October-December period. A positive figure means a majority of firms believe conditions have improved. About 11,000 companies responded to the quarterly survey.

The index for manufacturers reached 5.7, as easing chip shortages helped boost automobile production.

Sentiment among non-manufacturers stood at 4.4. Hotels, bars and restaurants saw business improve as more foreign tourists visited Japan.

However, an index on labor shortages rose to 26.3 among major firms. That's the highest reading since record-keeping began in the current format in 2004.