Categories: World

Sentiment in major Japanese industry continues to deteriorate

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Sentiment in Japanese major industry continued to deteriorate for the fifth consecutive quarter. This is according to a quarterly research (“Tankan”) published by the Japanese central bank on Monday. (picture icon)

The mood index for large manufacturing companies determined therein therefore fell to plus 1 in March, against plus 7 points three months earlier. A positive index means that optimists still outnumber the managers surveyed. However, the deterioration in sentiment turned out to be stronger than expected.

In contrast, sentiment in the services sector of the world’s third-largest economy, ahead of Germany, improved over the same period. The index for large non-manufacturing companies improved slightly from 19 to 20, according to the Bank of Japan (BoJ) survey.

In the coming months, the sentiment index for large manufacturing companies is expected to rise slightly further to plus 3. The services sector, on the other hand, expects the index to deteriorate to 15.

(SDA)

Source: Blick

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