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Policy Research Institute

 

Business Outlook Survey 

(April-June 2004)

1.Business conditions

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

(percent point)

 

Apr.-Jun.
2004
(present)

 

 Jul.-Sept.
2004
(outlook)

 

Oct.-Dec.
2004
(outlook)

 

Corporations with capital of 1 billion yen or over
All industry

7.2

12.2

12.9

 Manufacturing

8.9

13.4

13.5

 Non-manufacturing

6.1

11.4

12.5

Corporations with capital of 100 million to 1 billion yen
All industry

-2.4

8.4

12.7

 Manufacturing

4.4

13.3

16.2

 Non-manufacturing

-4.5

6.9

11.7

Corporations with capital of 10 to 100 million yen
All industry

-23.1

-13.6

-4.5

 Manufacturing

-16.4

-12.8

-0.9

 Non-manufacturing

-24.6

-13.8

-5.3

 

2.Domestic economic conditions

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

(percent point)

 

Apr.-Jun.
2004
(present)

 

Jul.-Sept.
2004
(outlook)

 

Oct.-Dec.
2004
(outlook)

 

Corporations with capital of 1 billion yen or over
All industry

25.3

19.9

13.9

 Manufacturing

25.2

19.8

12.1

 Non-manufacturing

25.5

19.9

15.0

Corporations with capital of 100 million to 1 billion yen
All industry

19.4

16.3

15.5

 Manufacturing

23.4

17.2

17.1

 Non-manufacturing

18.1

16.0

15.0

Corporations with capital of 10 to 100 million yen
All industry

-9.4

-5.2

0.2

 Manufacturing

-0.8

-3.8

1.7

 Non-manufacturing

-11.2

-5.5

-0.1

 

3.Sales(compared with the previous year)

(percent)

 

FY 2004

 

1st half      FY 2004

 

2nd half      FY 2004

 

All industry

1.2

1.2

1.2

 Manufacturing

3.5

5.8

1.4

 Non-manufacturing

0.2

-0.8

1.1

 

4.Current profits (compared with the previous year)

(percent)

 

FY 2004

 

1st half      FY 2004

 

2nd half      FY 2004

 

All industry

9.7

8.0

11.2

 Manufacturing

11.7

12.1

11.4

 Non-manufacturing

8.7

5.8

11.1

 

5.Investment in plant and equipment (compared with the previous year)

(percent)

 

FY 2004

 

1st half      FY 2004

 

2nd half      FY 2004

 

All industry

6.4

11.4

2.0

 Manufacturing

19.8

33.3

8.4

 Non-manufacturing

0.3

1.7

-1.1

 

6.Employment

business survey index
(Difference of "insufficient"-"excessive" compared with previous quarter)

(percent point)

 

Apr.-Jun.
2004
(present)

 

 Jul.-Sept.
2004
(outlook)

 

Oct.-Dec.
2004
(outlook)

 

Corporations with capital of 1 billion yen or over
All industry

3.4

3.1

3.5

 Manufacturing

-0.0

-0.5

-0.6

 Non-manufacturing

5.5

5.2

6.0

Corporations with capital of 100 million to 1 billion yen
All industry

6.0

5.5

6.5

 Manufacturing

1.4

2.4

5.4

 Non-manufacturing

7.4

6.5

6.9

Corporations with capital of 10 to 100 million yen
All industry

4.3

5.2

7.6

 Manufacturing

8.9

7.2

6.3

 Non-manufacturing

3.3

4.7

7.9