Arab Today, arab today japan postquake business confidence plunges
Last Updated : GMT 02:52:59
Arab Today, arab today
Arab Today, arab today

Japan post-quake business confidence plunges

Arab Today, arab today

Arab Today, arab today Japan post-quake business confidence plunges

Tokyo - AFP

Japanese business confidence plunged in the months after the March 11 earthquake, turning negative for the first time in over a year, the Bank of Japan said in its quarterly Tankan survey Friday. But firms expect conditions to improve by September and analysts said plans to increase capital spending signalled recovery hopes even amid uncertainty due to looming power shortages following the crisis at the tsunami-ravaged Fukushima Daiichi nuclear plant. Large manufacturer sentiment in June dropped to \"minus 9\" from \"6\" in March, a plunge of 15 points and the first negative reading in five quarters. The reading was worse than the median forecast of \"minus 7\" by economists polled by Dow Jones Newswires. The figure represents the percentage of companies saying business conditions are good minus those saying conditions are bad. The survey is taken into account by the BoJ when formulating monetary policy. The March disasters devastated entire towns along the northeast coast and left 23,000 dead or missing while wreaking havoc on Japanese industry, pushing the economy into recession in Japan\'s worst crisis since World War II. The nation\'s biggest firms such as Sony and Toyota were forced to shutter plants and halt production due to shortages in electricity and parts after the disaster disrupted supply chains, sending output and exports tumbling. The June survey showed sentiment among automakers, which were particularly hard hit due to a lack of components, plunged by a record 75 points to \"minus 52\". The strength of the yen versus major currencies is also a concern for firms, as it erodes overseas earnings when repatriated. However, Japan\'s recovery has been seen to be quicker than expected, as companies approach normal production levels ahead of earlier forecasts amid expectations that reconstruction spending will boost the economy. The survey showed that big companies expected sentiment to improve to plus two in the next survey in September, and boost capital spending by 4.2 percent in the current fiscal year. \"Business sentiment (among major manufacturers) is continuing to recover gradually, reflecting rebounding production,\" said Naoki Murakami, chief economist at Monex. Recent data suggest the worst may be over following the disaster, say analysts. Industrial output posted the second-largest gain on record in May, with a 5.7 percent on-month rise. However, the government warned this may have been partly driven by firms boosting production ahead of a decree to reduce electricity consumption by 15 percent for three months starting Friday to avoid blackouts during the peak summer months amid reduced capacity. \"The focus will be on what effect the issue of a power supply shortage is going to have\" on the economy, said NLI Research Institute senior economist Taro Saito. \"A V-shaped recovery was tipped as the supply chain has been restored earlier than expected, but it is unclear whether corporate activities will slow down in the July-September period due to power shortages.\" Other data on Friday showed Japan\'s core consumer price index rose by a higher than expected 0.6 percent in May from a year earlier, boosted by surging energy prices. The core consumer price index, which excludes volatile food prices, rose for the second consecutive month after gaining in April for the first time in more than two years on higher energy costs. But analysts expect Japan\'s CPI to fall back into negative territory in coming months, reflecting an economy mired in deflation as consumers hold back on purchases. Data on Friday showed Japan\'s unemployment rate fell to 4.5 percent in May from 4.7 percent in the previous month, with figures from disaster-hit northeastern Japan excluded, the government said. Household spending in May fell by an inflation-adjusted 1.9 percent from a year earlier.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan postquake business confidence plunges Arab Today, arab today japan postquake business confidence plunges

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track

GMT 14:50 2017 Monday ,20 February

Energy Market Research

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday