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Business Outlook Survey (January-March 2021) : Policy Research Institute

Business Outlook Survey

(January-March 2021)

Mar.12, 2021

1. Business conditions

Business survey index

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

 
(%points)
  Oct.-Dec.
2020
(previous)
 Jan.-Mar.
2021
(present)
 Apr.-Jun.
2021
(outlook)
 Jul.-Sep.
2021
(outlook)
Corporations with capital of 1 billion yen or over
 All industries11.6-4.52.57.1
Manufacturing21.61.62.59.3
Non-manufacturing6.7-7.42.56.0
Corporations with capital of 100 million to 1 billion yen
 All industries5.5-15.2-0.76.9
Corporations with capital of 10 to 100 million yen
 All industries-15.5-31.4-10.5-4.1

2. Domestic economic conditions

Business survey index

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

 
(%points)
  Oct.-Dec.
2020
(previous)
 Jan.-Mar.
2021
(present)
 Apr.-Jun.
2021
(outlook)
 Jul.-Sep.
2021
(outlook)
Corporations with capital of 1 billion yen or over
 All industries5.2-21.87.111.1
Manufacturing13.7-8.79.411.1
Non-manufacturing1.1-28.15.911.1
Corporations with capital of 100 million to 1 billion yen
 All industries-8.9-36.1-2.59.8
Corporations with capital of 10 to 100 million yen
 All industries-29.6-52.7-21.4-6.2

3. Employment

Business survey index

(Difference of "insufficient"-"excessive")

 
(%points)
 End of Dec.
2020
(previous)
End of Mar.
2021
(present)
End of Jun.
2021
(outlook)
End of Sep.
2021
(outlook)
Corporations with capital of 1 billion yen or over
 All industries6.08.76.56.6
Manufacturing-1.13.01.82.0
Non-manufacturing9.511.48.78.9
Corporations with capital of 100 million to 1 billion yen
 All industries12.613.29.910.1
Corporations with capital of 10 to 100 million yen
 All industries12.210.99.110.0

4. Sales (compared with the previous year)

 
(%)
 FY 2020FY 2021
All industries-7.13.2
Manufacturing-7.95.1
Non-manufacturing-6.82.5

5. Ordinary profits (compared with the previous year)

 
(%)
 FY 2020FY 2021
All industries-20.38.8
Manufacturing-23.216.7
Non-manufacturing-19.36.4

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

 
(%)
 FY 2020FY 2021
All industries-9.27.6
Manufacturing-9.17.9
Non-manufacturing-9.27.4

Note: Excludes expense purchasing land.

 

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