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Japan business mood worsens on weak global demand - BOJ tankan
December 14, 2012 / 12:00 AM / 5 years ago

Japan business mood worsens on weak global demand - BOJ tankan

TOKYO, Dec 14 (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 percent in the financial year ending in March, compared with a median forecast for a 5.0 percent increase.

The sentiment indexes are derived by subtracting the percentage of respondents who say conditions are poor from those who say they are good. A negative reading means pessimists outnumbered optimists.

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