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Policy Research Institute

 

Business Outlook Survey 

(April-June 2016)

 Jun. 13, 2016

1. Business conditions

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

(%points)

 

 Jan.-Mar.
2016
(previous)

 Apr.-Jun.
2016
(present)

 Jul.-Sep.
2016
(outlook)

 Oct.-Dec.
2016
(outlook)

Corporations with capital of 1 billion yen or over
  All industries -3.2 -7.9 5.8 7.4
 Manufacturing -7.9 -11.1 7.0 12.0
 Non-manufacturing -0.7 -6.3 5.2 5.1
Corporations with capital of 100 million to 1 billion yen
  All industries -2.8 -7.0 5.7 8.0
 Manufacturing -8.6 -6.6 8.0 13.9
 Non-manufacturing -1.0 -7.1 5.0 6.1
Corporations with capital of 10 to 100 million yen
  All industries -16.6 -16.9 -9.3 -2.8
 Manufacturing -19.3 -15.3 -8.2 -1.2
 Non-manufacturing -16.1 -17.2 -9.5 -3.1

 

2. Domestic economic conditions

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

(%points)

 

 Jan.-Mar.
2016
(previous)

 Apr.-Jun.
2016
(present)

 Jul.-Sep.
2016
(outlook)

 Oct.-Dec.
2016
(outlook)

Corporations with capital of 1 billion yen or over
  All industries -9.8 -9.5 1.7 3.4
 Manufacturing -12.0 -11.0 2.5 3.6
 Non-manufacturing -8.6 -8.7 1.2 3.3
Corporations with capital of 100 million to 1 billion yen
  All industries -12.1 -13.3 -2.7 2.5
 Manufacturing -14.9 -12.9 -1.4 6.9
 Non-manufacturing -11.2 -13.4 -3.2 1.1
Corporations with capital of 10 to 100 million yen
  All industries -21.7 -23.9 -16.5 -10.2
 Manufacturing -28.4 -26.0 -20.2 -8.8
 Non-manufacturing -20.4 -23.5 -15.8 -10.5

 

3. Employment

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

(%points)

 

End of Mar.
2016
(previous)

End of Jun.
2016
(present)

End of Sep.
2016
(outlook)

End of Dec.
2016
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 14.3 11.6 9.5 9.7
 Manufacturing 7.3 4.6 3.2 3.8
 Non-manufacturing 18.0 15.2 12.7 12.6
Corporations with capital of 100 million to 1 billion yen
  All industries 25.0 24.3 20.7 19.1
 Manufacturing 16.2 13.3 11.2 10.2
 Non-manufacturing 27.8 27.6 23.6 21.8
Corporations with capital of 10 to 100 million yen
  All industries 19.7 19.1 16.4 16.7
 Manufacturing 17.0 16.9 13.7 14.1
 Non-manufacturing 20.2 19.6 16.9 17.2

 

4. Sales (compared with the previous year)

(%)

 

  FY 2016

  1st half

   FY 2016

  2nd half

   FY 2016

All industries 0.0 -1.5 1.4
 Manufacturing 0.5 -2.0 3.0
 Non-manufacturing -0.2 -1.2 0.8

          

   

5. Ordinary profits (compared with the previous year)

(%)

 

  FY 2016

  1st half

   FY 2016

  2nd half

   FY 2016

All industries -4.6 -11.5 2.6
 Manufacturing -8.9 -19.7 3.8
 Non-manufacturing -2.7 -7.4 2.1

          

   

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

(%)

 

  FY 2016

  1st half

   FY 2016

  2nd half

   FY 2016

All industries 3.8 10.1 -1.4
 Manufacturing 6.2 13.7 0.0
 Non-manufacturing 2.3 7.9 -2.3
    Note:  Excludes expense purchasing land.