Japan’s business conditions index for the manufacturing sector declines in the fourth quarter

The Bank of Japan (BOJ) reported Wednesday (Dec. 14) that the business condition index of major Japanese manufacturers fell in the fourth quarter of 2022.

The Tankan index for Japan’s large manufacturers, which includes the automotive and electronics industries, was 7, down from 8 in the third quarter. Analysts had expected a drop to 6.

The index of large non-manufacturers was 19 in the fourth quarter, up from 14 in the third quarter.

In addition, the BOJ survey showed that large Japanese manufacturers plan to increase capital spending by 19.2% in the fiscal year ending next March. This is below economists’ expectations of 20.9% and below the 21.5% in the previous survey.

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