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Policy Research Institute

 

Business Outlook Survey 

(April-June 2011)

 Jun. 14, 2011

1. Business conditions

Business survey index
(Difference of "up"-"down" compared with previous quarter)

(%points)

 

 Jan.-Mar.
2011
(previous)

 Apr.-Jun.
2011
(present)

 Jul.-Sep.
2011
(outlook)

 Oct.-Dec.
2011
(outlook)

Corporations with capital of 1 billion yen or over
  All industries -1.1 -22.0 4.4 11.3
 Manufacturing -3.2 -23.3 5.6 17.4
 Non-manufacturing 0.0 -21.4 3.8 8.0
Corporations with capital of 100 million to 1 billion yen
  All industries -7.4 -28.6 -6.2 6.9
 Manufacturing -17.6 -24.4 -2.4 13.6
 Non-manufacturing -4.3 -29.9 -7.3 4.9
Corporations with capital of 10 to 100 million yen
  All industries -23.3 -41.1 -21.8 -10.1
 Manufacturing -26.7 -39.7 -23.3 -5.8
 Non-manufacturing -22.5 -41.4 -21.5 -11.0

 

2. Domestic economic conditions

Business survey index
(Difference of "up"-"down" compared with previous quarter)

(%points)

 

 Jan.-Mar.
2011
(previous)

 Apr.-Jun.
2011
(present)

 Jul.-Sep.
2011
(outlook)

 Oct.-Dec.
2011
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 2.1 -45.0 -4.7 14.3
 Manufacturing 0.2 -42.5 0.5 17.7
 Non-manufacturing 3.1 -46.4 -7.6 12.4
Corporations with capital of 100 million to 1 billion yen
  All industries -7.7 -58.3 -21.3 6.8
 Manufacturing -11.0 -57.3 -17.6 12.9
 Non-manufacturing -6.7 -58.6 -22.4 5.0
Corporations with capital of 10 to 100 million yen
  All industries -27.1 -62.3 -34.3 -12.3
 Manufacturing -28.1 -61.3 -28.6 -6.8
 Non-manufacturing -26.8 -62.5 -35.5 -13.5

 

3. Employment

Business survey index
(Difference of "insufficient"-"excessive" )

(%points)

 

End of Mar.
2011
(previous)

End of Jun.
2011
(present)

End of Sep.
2011
(outlook)

End of Dec.
2011
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 2.5 -1.9 -0.8 1.4
 Manufacturing -1.5 -6.4 -3.3 -0.3
 Non-manufacturing 4.6 0.5 0.6 2.2
Corporations with capital of 100 million to 1 billion yen
  All industries 4.3 0.3 1.1 2.8
 Manufacturing -3.0 -2.2 -0.9 1.0
 Non-manufacturing 6.5 1.0 1.7 3.3
Corporations with capital of 10 to 100 million yen
  All industries 2.3 -2.4 -2.0 0.2
 Manufacturing -1.2 -7.7 -4.6 -0.1
 Non-manufacturing 3.1 -1.3 -1.4 0.3

 

4. Sales (compared with the previous year)

(%)

 

  FY 2011

  1st half

   FY 2011

  2nd half

   FY 2011

All industries 0.3 -1.7 2.1
 Manufacturing 2.4 0.0 4.6
 Non-manufacturing -0.5 -2.3 1.1

          

   

5. Ordinary profits (compared with the previous year)

(%)

 

  FY 2011

  1st half

   FY 2011

  2nd half

   FY 2011

All industries -1.1 -12.7 9.3
 Manufacturing -0.4 -20.2 17.0
 Non-manufacturing -1.4 -9.8 6.2

          

   

6. Software and investment in plant and equipment (compared with the previous year)

(%)

 

  FY 2011

  1st half

   FY 2011

  2nd half

   FY 2011

All industries 4.9 11.1 -0.3
 Manufacturing 6.9 10.6 3.3
 Non-manufacturing 3.8 11.4 -2.4
Note:  Excludes expense purchasing land.