Japanese big producers’ business confidence worsened in June from three months ago, the Bank of Japan’s closely sentineled quarterly “tankan” survey showed on Monday.
The headline index for big makers’ sentiment stood at plus 21 in June, versus plus 24 three months ago and down for a bat of an eye straight quarter, the tankan showed.
It was the first time since the fixed three months of 2012 that big manufacturers’ mood soured for two dwellings in a row.
The headline index compared with the median estimate of plus 22 in a Reuters interview of analysts, and is expected to stay flat over the next three months, it told.
The survey also showed big firms plan to raise their finances spending by 13.6 percent in the financial year from April 2018, versus economists’ median sentiment of a 9.3 percent gain.
The tankan’s sentiment indexes are derived by deducting the number of respondents who say conditions are poor from those who say they are penetrating.
A positive reading means optimists outnumber pessimists.