Japan big manufacturers' business mood sours to over six-year low - BOJ tankan survey

TOKYO (Reuters) - Business confidence at big Japanese manufacturers worsened in the three months to December to its lowest level more than six years, the central bank's 'tankan' survey showed, as the prolonged U.S.-China trade war and global slowdown weigh on the export-led economy.

Reuters December 13, 2019 06:08:08 IST
Japan big manufacturers' business mood sours to over six-year low - BOJ tankan survey

Japan big manufacturers business mood sours to over sixyear low  BOJ tankan survey

TOKYO (Reuters) - Business confidence at big Japanese manufacturers worsened in the three months to December to its lowest level more than six years, the central bank's "tankan" survey showed, as the prolonged U.S.-China trade war and global slowdown weigh on the export-led economy.

The headline index for big manufacturers' sentiment stood at zero in December, versus plus 5 in September, the closely watched survey showed on Friday. It compared with economists' median estimate of plus 2 in a Reuters poll. It was the fourth straight quarter of declines.

It was the lowest reading since March 2013 when it was minus 8.

The index is seen staying at zero over the next three months, the survey showed.

The survey also showed big firms plan to raise their capital expenditure by 6.8% in the financial year to March 2020, versus economists' median estimate of a 6.0% increase.

The tankan's sentiment indexes are derived by subtracting the number of respondents who say conditions are poor from those who say they are good. A positive reading means optimists outnumber pessimists.

For the POLL story on the survey:

Survey results on the BOJ's website:

https://www.boj.or.jp/en/statistics/tk/gaiyo/2016/tka1912.pdf

(Reporting by Leika Kihara & Tetsushi Kajimoto; Editing by Chris Gallagher)

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