Business Confidence Sags in Japan |
New York Times - Apr 4, 2011 |
The devastating natural disasters that struck Japan last month have caused widespread concern about business conditions in coming months among Japanese companies, according to survey results released Monday by the Japanese central bank.
The data are a subset of a wider, closely watched business sentiment survey, the Tankan, which is conducted quarterly by the Bank of Japan and was released Friday.
In an unusual step, the bank stripped out responses returned before the earthquake and tsunami that struck March 11 from those received after that date, in an effort to gauge how sentiment had shifted in the wake of the twin disasters.
The postquake Tankan results released Monday showed large manufacturers, which are the most closely watched by economists and investors, turning negative in their outlook for the next three months, with a reading of minus 2. Answers received from those who replied before the quake made for a reading of plus 3. A negative number means pessimists outnumber optimists.
Read Full Article from New York Times
- Posted: 2011-04-04 09:48:05
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