Japan's business mood hits seven-year low as virus revives deflation specter

TOKYO - Japan’s business confidence soured to levels not seen since 2013, a closely watched survey showed, as the coronavirus pandemic hit sectors from hotels to carmakers and pushed the economy closer to recession.

The Bank of Japan’s quarterly “tankan” survey on Wednesday showed big manufacturers’ sentiment turned pessimistic for the first time in seven years as supply chain disruptions caused by the outbreak hit sectors across the board. “The tankan clearly shows a sharp deterioration in business sentiment and confirms the economy is already in recession,” said Yasunari Ueno, chief market economist at Mizuho Securities.

It was the first time in seven years the big manufacturers’ index turned negative, with slumping global demand pushing sentiment among big carmakers to the lowest level since 2011. For now, big firms expect to increase capital expenditure by 1.8% in the fiscal year that began April, compared with a median estimate of a 1.1% decrease.

Many analysts expect the world’s third-largest economy to contract in January-March and the current quarters, keeping pressure on policymakers to deploy huge stimulus programs.

Thank communist China for that

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

G20 financial chiefs to discuss steps on virus Tuesday: Japan finance ministerFinancial leaders from the Group of 20 major economies will discuss ways on Tuesday to proceed with concrete steps to respond to the coronavirus, Japanese Finance Minister Taro Aso said. The bottom line is I don't care what they guy says I am going to Tokyo Japan on May to 8th to the 15th see my one true love my Japanese girlfriend chan__31 I love her so much And look on the price I don't have a to Coronavirus COVID 19 When this pandemic is done period
Источник: Reuters - 🏆 2. / 97 Прочитайте больше »