LOC09:47
06:47 GMT
TOKYO, Oct 3 (KUNA) -- Business confidence among major Japanese manufacturers worsened for the third straight quarter, the Bank of Japan said Monday, reflecting higher energy and raw material costs.
The central bank's quarterly survey showed the business sentiment index among big makers, such as automakers and electronics makers, in the world's third-largest economy slid to 8 in September, compared with 9 in the previous June survey.
Sentiment was dampened amid surging costs of energy and raw materials in the wake of the Ukraine crisis, as well as the yen's sharp decline. Confidence among large retailers, banks, real estate companies and other non-manufacturers improved 1 point to plus 14, up for the second quarter in a row, buoyed by resumption of economic activities with eased Covid-19 restrictions.
The index represents the percentage of companies which are positive about their business minus the percentage of those who gave negative replies. Thus, a positive number means optimists outnumber pessimists. The central bank's "tankan," which means short-term economic outlook, is Japan's most closely watched index of business confidence.
Looking ahead, large manufacturers expect their business sentiment index to slightly improve to 9 in the next survey in December, while large non-manufacturers predict the reading to worsen to plus 11. The latest poll was conducted between Aug.29 and Sept. 30, covering 9,268 companies, of which 99.5 percent responded. (end)
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