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Policy Research Institute

 

Business Outlook Survey 

(January-March 2008)

 March  24 , 2008

1.Business conditions

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

(%)

 

 

 Oct.-Dec.
2007
(previous)

Jan.-Mar.
2008
(present)

Apr.-Jun.
2008
(outlook)

Jul.-Sep.
2008
(outlook)

Corporationswith capital of 1 billion yen or over
Allindustries 0.5 -9.3 -2.3 6.6
 Manufacturing 5.2 -12.9 -1.6 7.3
 Non-manufacturing -2.2 -7.2 -2.8 6.1
Corporationswith capital of 100 million to 1 billion yen
Allindustries -2.6 -14.1 -5.0 4.7
 Manufacturing 2.7 -18.9 -3.2 7.1
 Non-manufacturing -4.3 -12.6 -5.6 3.9
Corporationswith capital of 10 to 100 million yen
Allindustries -18.7 -30.4 -20.2 -12.7
 Manufacturing -16.8 -32.7 -15.1 -9.0
 Non-manufacturing -19.1 -29.9 -21.2 -13.5

 

2.Domestic economic conditions

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

(%)

 

 

 Oct.-Dec.
2007
(previous)

Jan.-Mar.
2008
(present)

Apr.-Jun.
2008
(outlook)

Jul.-Sep.
2008
(outlook)

Corporationswith capital of 1 billion yen or over
Allindustries -4.1 -21.1 -9.0 1.2
 Manufacturing -0.6 -20.6 -7.5 2.1
 Non-manufacturing -6.2 -21.4 -10.0 0.6
Corporationswith capital of 100 million to 1 billion yen
Allindustries -9.1 -28.3 -16.9 -5.5
 Manufacturing -7.9 -29.3 -13.4 -2.5
 Non-manufacturing -9.5 -27.9 -18.0 -6.5
Corporationswith capital of 10 to 100 million yen
Allindustries -26.3 -42.7 -29.1 -19.6
 Manufacturing -25.0 -42.2 -21.8 -14.3
 Non-manufacturing -26.6 -42.8 -30.6 -20.7

 

3.Sales(compared with the previous year)

(%)

 

FY 20071sthalf   FY 20072nd half   FY 2007FY 20081sthalf   FY 2008

2nd half   FY 2008

Allindustries 1.9 2.8 1.1 1.4 1.3 1.5
 Manufacturing 4.6 5.7 3.6 2.1 2.2 1.9
 Non-manufacturing 0.7 1.5 -0.1 1.1 0.9 1.3

 

4.Ordinary profits (compared with the previous year)

(%)

 

FY 20071sthalf   FY 20072nd half   FY 2007FY 20081sthalf   FY 2008

2nd half   FY 2008

All industries -2.9 2.9 -8.3 6.0 2.0 9.6
 Manufacturing -0.9 4.8 -6.2 2.5 -5.2 10.1
 Non-manufacturing -4.5 1.4 -9.7 8.3 7.2 9.3

              

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

(%)

 

FY 20071sthalf   FY 20072nd half   FY 2007FY 20081sthalf   FY 2008

2nd half   FY 2008

Allindustries 0.6 -1.3 2.3 -9.4 2.2 -19.5
 Manufacturing 2.6 2.7 2.5 -6.1 4.7 -15.9
 Non-manufacturing -0.8 -4.1 2.2 -11.6 0.4 -21.7

 

6.Employment

Businesssurvey index
(Difference of "insufficient"-"excessive" )

(%)

 

 

 Oct.-Dec.
2007
(previous)

Jan.-Mar.
2008
(present)

Apr.-Jun.
2008
(outlook)

Jul.-Sep.
2008
(outlook)

Corporationswith capital of 1 billion yen or over
Allindustries 18.1 17.2 10.5 9.6
 Manufacturing 11.8 11.4 6.6 5.8
 Non-manufacturing 21.9 20.6 12.7 11.8
Corporationswith capital of 100 million to 1 billion yen
Allindustries 21.0 20.2 15.1 14.3
 Manufacturing 16.8 14.9 9.0 9.3
 Non-manufacturing 22.3 21.9 17.1 15.9
Corporationswith capital of 10 to 100 million yen
Allindustries 11.0 10.1 4.4 5.0
 Manufacturing 11.5 9.5 2.9 3.2
 Non-manufacturing 10.9 10.2 4.7 5.3