TOKYO (MNI) – The Bank of Japan’s quarterly Tankan survey released
on Monday showed that business confidence among large manufacturers
marked the first decline in two quarters in September from three months
ago and it is projected to show no improvement in December.
Sentiment among non-manufacturers, both big and small, was
unchanged from June, but they expect worse business conditions ahead.
The Tankan survey headline index — showing current business
sentiment among large manufacturers — fell to -3 in September from -1
in June.
The benchmark figure came slightly better than the median forecast
for -4 in an MNI survey, with economists’ projections ranging from -1 to
-6.
The diffusion index is calculated by subtracting the percentage of
companies reporting deteriorating business conditions from the
percentage of those reporting an improvement. A positive figure
indicates the majority of firms see better business conditions.
Sentiment slipped amid the global economic slowdown caused by the
European debt crisis.
tokyo@mni-news.com
** MNI Tokyo Newsroom: 81-3-6860-4822 **
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