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Policy Research Institute

 

Business Outlook Survey 

(July-September 2012)

 Sep. 11, 2012

1. Business conditions

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

(%points)

 

 Apr.-Jun.
2012
(previous)

 Jul.-Sep.
2012
(present)

 Oct.-Dec.
2012
(outlook)

 Jan.-Mar.
2013
(outlook)

Corporations with capital of 1 billion yen or over
  All industries -3.1 2.2 5.4 5.2
 Manufacturing -5.7 2.5 8.5 5.2
 Non-manufacturing -1.6 2.0 3.8 5.3
Corporations with capital of 100 million to 1 billion yen
  All industries -7.2 -3.4 3.2 1.2
 Manufacturing -12.9 -6.6 5.6 2.7
 Non-manufacturing -5.5 -2.5 2.5 0.8
Corporations with capital of 10 to 100 million yen
  All industries -20.0 -19.8 -8.1 -10.8
 Manufacturing -26.0 -21.9 -4.1 -10.0
 Non-manufacturing -18.8 -19.4 -8.9 -10.9

 

2. Domestic economic conditions

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

(%points)

 

 Apr.-Jun.
2012
(previous)

 Jul.-Sep.
2012
(present)

 Oct.-Dec.
2012
(outlook)

 Jan.-Mar.
2013
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 0.7 -1.0 1.2 2.8
 Manufacturing -1.7 0.0 2.2 1.4
 Non-manufacturing 1.9 -1.5 0.7 3.5
Corporations with capital of 100 million to 1 billion yen
  All industries -3.4 -7.2 -2.4 -0.9
 Manufacturing -7.8 -10.0 -2.5 0.9
 Non-manufacturing -2.1 -6.4 -2.4 -1.5
Corporations with capital of 10 to 100 million yen
  All industries -21.7 -21.6 -16.0 -15.1
 Manufacturing -27.2 -23.9 -13.3 -13.3
 Non-manufacturing -20.5 -21.1 -16.5 -15.5

 

3. Employment

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

(%points)

 

End of Jun.
2012
(previous)

End of Sep.
2012
(present)

End of Dec.
2012
(outlook)

End of Mar.
2013
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 0.4 1.3 2.1 2.5
 Manufacturing -5.5 -5.6 -4.0 -2.2
 Non-manufacturing 3.6 5.0 5.4 5.1
Corporations with capital of 100 million to 1 billion yen
  All industries 8.0 10.9 8.6 6.7
 Manufacturing -1.6 2.3 1.1 0.1
 Non-manufacturing 10.9 13.4 10.9 8.7
Corporations with capital of 10 to 100 million yen
  All industries 5.6 7.8 6.7 5.3
 Manufacturing -1.5 1.0 0.4 -0.3
 Non-manufacturing 7.0 9.2 8.0 6.4

 

4. Sales (compared with the previous year)

(%)

 

  FY 2012

  1st half

   FY 2012

  2nd half

   FY 2012

All industries 2.8 3.4 2.3
 Manufacturing 2.3 3.0 1.7
 Non-manufacturing 3.0 3.6 2.5

          

   

5. Ordinary profits (compared with the previous year)

(%)

 

  FY 2012

  1st half

   FY 2012

  2nd half

   FY 2012

All industries 5.7 6.5 5.1
 Manufacturing 2.9 -5.2 10.5
 Non-manufacturing 7.1 12.5 2.7

          

   

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

(%)

 

  FY 2012

  1st half

   FY 2012

  2nd half

   FY 2012

All industries 9.8 19.0 2.8
 Manufacturing 15.0 23.0 8.2
 Non-manufacturing 6.8 16.4 -0.2
Note:  Excludes expense purchasing land.