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Policy Research Institute

 

Business Outlook Survey 

(July-September 2013)

 Sep. 11, 2013

1. Business conditions

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

(%points)

 

 Apr.-Jun.
2013
(previous)

 Jul.-Sep.
2013
(present)

 Oct.-Dec.
2013
(outlook)

 Jan.-Mar.
2014
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 5.9 12.0 9.8 8.5
 Manufacturing 5.0 15.2 13.5 9.0
 Non-manufacturing 6.4 10.4 7.8 8.2
Corporations with capital of 100 million to 1 billion yen
  All industries 1.0 9.6 9.5 6.8
 Manufacturing 1.1 11.7 8.3 3.6
 Non-manufacturing 1.0 9.0 9.8 7.7
Corporations with capital of 10 to 100 million yen
  All industries -11.3 -8.7 -0.6 -4.5
 Manufacturing -12.9 -12.7 0.4 -2.8
 Non-manufacturing -11.0 -7.9 -0.8 -4.8

 

2. Domestic economic conditions

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

(%points)

 

 Apr.-Jun.
2013
(previous)

 Jul.-Sep.
2013
(present)

 Oct.-Dec.
2013
(outlook)

 Jan.-Mar.
2014
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 33.0 23.7 15.5 13.4
 Manufacturing 29.0 22.0 14.1 10.0
 Non-manufacturing 35.1 24.6 16.3 15.2
Corporations with capital of 100 million to 1 billion yen
  All industries 31.0 22.6 17.3 14.4
 Manufacturing 26.5 18.7 13.9 8.9
 Non-manufacturing 32.3 23.8 18.3 16.1
Corporations with capital of 10 to 100 million yen
  All industries 9.8 6.5 7.0 3.3
 Manufacturing 3.4 -0.3 8.1 3.2
 Non-manufacturing 11.0 7.9 6.8 3.4

 

3. Employment

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

(%points)

 

End of Jun.
2013
(previous)

End of Sep.
2013
(present)

End of Dec.
2013
(outlook)

End of Mar.
2014
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 3.4 5.1 4.5 4.5
 Manufacturing -5.0 -2.0 -1.8 -1.1
 Non-manufacturing 7.8 8.9 7.8 7.4
Corporations with capital of 100 million to 1 billion yen
  All industries 9.1 11.7 9.5 8.4
 Manufacturing -2.3 0.7 -0.3 0.9
 Non-manufacturing 12.6 15.0 12.5 10.7
Corporations with capital of 10 to 100 million yen
  All industries 8.4 11.4 10.6 8.1
 Manufacturing 0.3 3.7 5.8 2.6
 Non-manufacturing 10.0 12.9 11.6 9.3

 

4. Sales (compared with the previous year)

(%)

 

  FY 2013

  1st half

   FY 2013

  2nd half

   FY 2013

All industries 2.4 2.2 2.7
 Manufacturing 4.2 1.8 6.6
 Non-manufacturing 1.7 2.3 1.1

          

   

5. Ordinary profits (compared with the previous year)

(%)

 

  FY 2013

  1st half

   FY 2013

  2nd half

   FY 2013

All industries 12.3 14.4 10.5
 Manufacturing 21.2 25.0 18.2
 Non-manufacturing 8.2 9.8 6.8

          

   

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

(%)

 

  FY 2013

  1st half

   FY 2013

  2nd half

   FY 2013

All industries 9.1 15.4 3.8
 Manufacturing 8.5 3.7 13.1
 Non-manufacturing 9.4 23.5 -1.2
Note:  Excludes expense purchasing land.