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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 2007 1sthalf   FY 2007 2nd half   FY 2007 FY 2008 1sthalf   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 2007 1sthalf   FY 2007 2nd half   FY 2007 FY 2008 1sthalf   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 2007 1sthalf   FY 2007 2nd half   FY 2007 FY 2008 1sthalf   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