Posted on 18 Dec 2008
Business confidence among major Japanese manufacturers marked the steepest fall in more than 30 years in the last three months from the previous quarter, the Bank of Japan said Monday.
The index of big makers’ sentiment came to minus 24, down 21 points from minus 3 registered in the previous survey, and marked the fifth straight quarter of decline, the central bank’s closely-watched Tankan survey showed. The result, apparently due to the global economic slowdown and financial turmoil, compares with the average market forecast of minus 23 in a Kyodo News survey.
