Another poor indicator for the Japanese economy

  • BSI Large All Industry -3.2% q/q(prior was 4.6 q/q)
  • BSI Large Manufacturing -7.9% q/q (prior was 3.8 q/q)

Reuters with more:

  • Big Japanese manufacturers' sentiment worsened sharply in January-March
  • Suggesting the economy has lost momentum at the start of the year
  • Firms see 2015/16 capital spending +8.8% y/y,and 2016/17 capex -6.6% y/y

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I posted a brief description of the indicator here earlier, in case you're wondering what it is.

  • It measures the % of firms that expect the business environment to improve from the previous quarter minus the % that expect it to worsen.
  • The survey is conducted by the Ministry of Finance and the Economic and Social Research Institute arm of the Cabinet Office.