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Policy Research Institute

 

Business Outlook Survey 

(January-March 2006)

1.Business conditions

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

(%)

 

 

 Oct.-Dec.
2005
(previous)

Jan.-Mar.
2006<
(present)

Apr.-Jun.
2006
(outlook)

Jul.-Sep.
2006
(outlook)

Corporations with capital of 1 billion yen or over
All industries 10.5 6.1 8.3 11.3
 Manufacturing 10.5 3.1 6.8 9.7
 Non-manufacturing 10.5 7.9 9.1 12.3
Corporations with capital of 100 million to 1 billion yen
All industries 5.2 -0.8 6.5 10.9
 Manufacturing 11.9 -3.9 5.0 8.6
 Non-manufacturing 3.0 0.2 6.9 11.7
Corporations with capital of 10 to 100 million yen
All industries -6.4 -11.4 -4.8 -1.8
 Manufacturing -3.0 -13.0 -2.7 -1.4
 Non-manufacturing -7.1 -11.1 -5.2 -1.9

 

2.Domestic economic conditions

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

(%)

 

 

 Oct.-Dec.
2005
(previous)

Jan.-Mar.
2006
(present)

Apr.-Jun.
2006
(outlook)

Jul.-Sep.
2006
(outlook)

Corporations with capital of 1 billion yen or over
All industries 26.1 22.7 18.2 14.6
 Manufacturing 23.9 17.9 15.0 11.1
 Non-manufacturing 27.4 25.6 20.1 16.8
Corporations with capital of 100 million to 1 billion yen
All industries 23.2 16.2 20.0 16.4
 Manufacturing 26.7 14.3 18.0 14.7
 Non-manufacturing 22.0 16.8 20.6 17.0
Corporations with capital of 10 to 100 million yen
All industries 3.4 1.9 3.3 3.7
 Manufacturing 3.2 -2.1 4.9 6.0
 Non-manufacturing 3.4 2.8 3.0 3.2

 

3.Sales(compared with the previous year)

(%)

 

FY 20051st half   FY 20052nd half   FY 2005FY 20061st half   FY 2006

2nd half   FY 2006

All industries 2.4 3.0 1.9 2.4 2.3 2.5
 Manufacturing 4.7 4.0 5.4 3.3 4.1 2.6
 Non-manufacturing 1.4 2.6 0.3 2.0 1.6 2.5

 

4.Ordinary profits (compared with the previous year)

(%)

 

FY 20051st half   FY 20052nd half   FY 2005FY 20061st half   FY 2006

2nd half   FY 2006

All industries 3.6 6.6 1.0 9.6 6.3 12.5
 Manufacturing 5.2 6.5 3.9 8.5 3.1 13.5
 Non-manufacturing 2.6 6.7 -0.8 10.3 8.4 11.9

              

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

(%)

 

FY 20051st half   FY 20052nd half   FY 2005FY 20061st half   FY 2006

2nd half   FY 2006

All industries 11.1 14.3 8.5 -8.7 2.1 -17.5
 Manufacturing 15.3 21.1 10.9 -7.1 8.3 -19.2
 Non-manufacturing 8.6 10.4 7.1 -9.7 -1.7 -16.5

 

6.Employment

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

(%)

 

 

 Oct.-Dec.
2005
(previous)

Jan.-Mar.
2006
(present)

Apr.-Jun.
2006
(outlook)

Jul.-Sep.
2006
(outlook)

Corporations with capital of 1 billion yen or over
All industries 12.0 15.2 8.6 8.1
 Manufacturing 6.8 9.3 4.1 4.2
 Non-manufacturing 15.1 18.7 11.4 10.4
Corporations with capital of 100 million to 1 billion yen
All industries 18.1 20.3 11.8 11.2
 Manufacturing 15.3 17.1 6.9 5.2
 Non-manufacturing 18.9 21.4 13.4 13.2
Corporations with capital of 10 to 100 million yen
All industries 13.3 12.7 6.4 6.1
 Manufacturing 15.5 13.4 6.6 6.4
 Non-manufacturing 12.8 12.5 6.3 6.0