Japan big manufacturers’ sentiment worsens: BOJ March tankan

April 1, 2019

Tokyo--Business sentiment among large manufacturers in Japan deteriorated over the last quarter, the Bank of Japan's "tankan" quarterly survey for March showed Monday.

The headline diffusion index for large manufacturers' current business conditions stood at plus 12, down from the December reading of plus 19, the BOJ said.

The March result compared with the average forecast of plus 13 in a Jiji Press poll of 20 economic research institutes.

The DI represents the percentage of companies seeing good business conditions minus those feeling the opposite.

For large nonmanufacturers, the current condition DI fell to plus 21 from plus 24.

Meanwhile, the DI for large manufacturers' business outlook toward June stood at plus 8. The outlook DI for large nonmanufacturers came to plus 20.

Capital spending at large companies in both sectors in fiscal 2019 is forecast to expand 1.2 pct from the previous year, the BOJ also said. Jiji Press