Illustrative file photo of construction workers working on the construction of an office building in Tokyo.
Jun 2, 2020. . / Issei Kato (ISSEI KATO /)
TOKYO, Jul 1 (.) – Japanese manufacturers’ pessimism deepened to a level not seen since 2009 in the three months to June, the central bank’s « tankan » survey showed on Wednesday, as the coronavirus pandemic caused havoc on commercial activity and consumption.
The overall confidence index for major manufacturers worsened to -34 in June from -8 in March, the survey showed on Wednesday.
The index was compared to the average economist estimate of -31 in a . poll. It marked the sixth consecutive quarter of declines and reached its lowest level since June 2009.
The reading would improve to -27 in the next three months, the survey showed, noting that large companies plan to increase their capital expenditures by 3.2% in the financial year through March 2021, compared to the average estimate of economists up 2.1%.
(Report by Leika Kihara and Tetsushi Kajimoto; Edited in Spanish by Javier Leira)