Japan Large Manufacturers’ Sentiment Deteriorates Sharply In Q4

Japan large manufacturers’ sentiment deteriorated notably in the fourth quarter, the business outlook survey published by the Ministry of Finance showed on Monday.

At -3.6, the business survey index of large manufacturers turned negative in the fourth quarter, down from +1.7 in the third quarter. The index is forecast to rise to +1.4 in the next quarter.

Meanwhile, for large non-manufacturers, the business survey index rose to 2.7 from -0.2 in the third quarter. But the score is forecast to weaken to 1.9 in the first quarter of 2023.

Consequently, the overall BSI for overall large industries stood at +0.7 versus +0.4 a quarter ago. For the coming quarter, the score is seen at 1.8.