Wednesday, May 6, 2015Wednesday, May 6, 2015

Japan business mood worsens on weak global demand: BOJ survey

Published on Dec 14, 2012 8:16 AM

TOKYO (REUTERS) - Big Japanese manufacturers' sentiment worsened in the three months to December, a Bank of Japan survey showed on Friday, adding to signs that the global slowdown and a territorial row with China were hurting an economy already seen as in a mild recession.

The headline index for big manufacturers' sentiment was minus 12 in December, down from minus 3 in September and worse than a median forecast of economists for minus 10, the quarterly tankan survey showed.

Big manufacturers expect conditions to improve only slightly over the next three months, with the index for March seen at minus 10.

The survey also showed big firms plan to raise their capital spending by 6.8 per cent in the financial year ending in March, compared with a median forecast for a 5.0 per cent increase.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!