Economic Outlook Dims for Japan's Industrial Giants

Apr 02, 2025 | News On Japan

TOKYO - The Bank of Japan's March Tankan survey, a key quarterly economic report, showed that business sentiment among large manufacturers has deteriorated for the first time in four quarters.

The business conditions diffusion index (DI) for large manufacturers fell by 2 points from the previous survey conducted in December 2024, reaching a positive reading of 12. This marks the first decline in sentiment in a year.

A significant factor behind the decline was a drop in steel, which has been hit by tariff hikes under the Trump administration in the United States. Textiles and petroleum and coal products also saw steep declines.

Meanwhile, sentiment among large non-manufacturers improved for the first time in two quarters, rising 2 points to a positive 35. Despite consumers continuing to cut back on spending amid high prices, strong inbound demand fueled by the weak yen helped support the service sector.

As for small and medium-sized enterprises, the index remained unchanged at a positive 10. Rising raw material costs were offset by progress in passing those costs on to prices.

Source: テレ東BIZ

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