Business Outlook Survey

(July-September 2019)

Sep.11, 2019

1. Business conditions

Business survey index

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

 
(%points)
  Apr.-Jun.
2019
(previous)
 Jul.-Sep.
2019
(present)
 Oct.-Dec.
2019
(outlook)
 Jan.-Mar.
2020
(outlook)
Corporations with capital of 1 billion yen or over
 All industries-3.71.1-0.41.7
Manufacturing-10.4-0.21.71.7
Non-manufacturing-0.41.8-1.41.7
Corporations with capital of 100 million to 1 billion yen
 All industries-5.30.5-4.5-0.6
Corporations with capital of 10 to 100 million yen
 All industries-15.0-10.0-11.2-8.6

2. Domestic economic conditions

Business survey index

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

 
(%points)
  Apr.-Jun.
2019
(previous)
 Jul.-Sep.
2019
(present)
 Oct.-Dec.
2019
(outlook)
 Jan.-Mar.
2020
(outlook)
Corporations with capital of 1 billion yen or over
 All industries-3.6-1.6-15.8-0.8
Manufacturing-8.6-5.1-13.60.0
Non-manufacturing-1.10.1-16.9-1.2
Corporations with capital of 100 million to 1 billion yen
 All industries-8.8-3.1-24.6-9.8
Corporations with capital of 10 to 100 million yen
 All industries-20.1-14.7-28.7-19.6

3. Employment

Business survey index

(Difference of "insufficient"-"excessive")

 
(%points)
 End of Jun.
2019
(previous)
End of Sep.
2019
(present)
End of Dec.
2019
(outlook)
End of Mar.
2020
(outlook)
Corporations with capital of 1 billion yen or over
 All industries21.121.418.817.9
Manufacturing14.913.111.410.5
Non-manufacturing24.225.422.421.5
Corporations with capital of 100 million to 1 billion yen
 All industries34.032.728.525.2
Corporations with capital of 10 to 100 million yen
 All industries30.829.427.524.3

4. Sales (compared with the previous year)

 
(%)
 FY 2019
All industries0.7
Manufacturing0.5
Non-manufacturing0.8

5. Ordinary profits (compared with the previous year)

 
(%)
 FY 2019
All industries-4.6
Manufacturing-9.1
Non-manufacturing-2.7

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

 
(%)
 FY 2019
All industries8.3
Manufacturing8.9
Non-manufacturing7.9

Note: Excludes expense purchasing land.

 

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