TOKYO, Apr 01 (News On Japan) - The Bank of Japan's March "Tankan" survey, which gauges the business sentiment of approximately 9,000 domestic companies, revealed that sentiment among "large manufacturers" has worsened for the first time in four quarters.
The Tankan survey, conducted quarterly based on feedback from around 9,000 companies across Japan, is a highly regarded economic index that plays a crucial role in shaping monetary policy decisions due to its insights into economic trends.
According to the results published today for the March period, the sentiment in "large manufacturing companies" declined by two points to "+11" from the previous survey in December, marking a downturn for the first time in four quarters.
The sentiment was significantly affected in sectors such as "automobiles" and "non-ferrous metals," partly due to production suspensions by major car manufacturers like Daihatsu Industries following certification scandals.
Conversely, "large non-manufacturing businesses" have seen an improvement, with sentiment rising by two points to "+34," driven by robust inbound demand and progress in passing on higher costs to prices. This marks the eighth consecutive quarter of improvement and the highest level of sentiment since August 1991, nearly 33 years ago.
Source: TBS
