Business Outlook Survey

(April-June 2024)

June.13, 2024

1. Business conditions

Business survey index

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

 
(%points)
   Jan.-Mar.
2024
(previous)
 Apr.-Jun.
2024
(present)
 Jul.-Sep.
2024
(outlook)
 Oct.-Dec.
2024
(outlook)
Corporations with capital of 1 billion yen or over
  All industries -0.0 0.4 6.6 6.8
Manufacturing -6.7 -1.0 9.2 10.7
Non-manufacturing 3.2 1.1 5.4 5.0
Corporations with capital of 100 million to 1 billion yen
  All industries 0.2 -1.6 6.7 9.9
Corporations with capital of 10 to 100 million yen
  All industries -13.6 -10.3 -2.7 0.1

2. Domestic economic conditions

Business survey index

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

 
(%points)
   Jan.-Mar.
2024
(previous)
 Apr.-Jun.
2024
(present)
 Jul.-Sep.
2024
(outlook)
 Oct.-Dec.
2024
(outlook)
Corporations with capital of 1 billion yen or over
  All industries 8.0 5.8 5.7 5.4
Manufacturing 1.9 3.2 5.3 7.4
Non-manufacturing 10.9 7.0 5.9 4.5
Corporations with capital of 100 million to 1 billion yen
  All industries 6.8 0.3 2.2 3.7
Corporations with capital of 10 to 100 million yen
  All industries -4.9 -13.1 -12.1 -7.8

3. Employment

Business survey index

(Difference of "insufficient"-"excessive")

 
(%points)
  End of Mar.
2024
(previous)
End of Jun.
2024
(present)
End of Sep.
2024
(outlook)
End of Dec.
2024
(outlook)
Corporations with capital of 1 billion yen or over
  All industries 28.3 25.7 22.6 20.7
Manufacturing 18.3 18.2 16.7 14.6
Non-manufacturing 33.0 29.2 25.4 23.5
Corporations with capital of 100 million to 1 billion yen
  All industries 41.3 39.3 35.1 32.4
Corporations with capital of 10 to 100 million yen
  All industries 29.0 29.9 27.9 27.4

4. Sales (compared with the previous year)

 
(%)
  FY 2024
All industries 2.6
Manufacturing 2.5
Non-manufacturing 2.7

5. Ordinary profits (compared with the previous year)

 
(%)
  FY 2024
All industries -1.8
Manufacturing -4.4
Non-manufacturing -0.9

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

 
(%)
  FY 2024
All industries 12.1
Manufacturing 15.4
Non-manufacturing 10.3

Note: Excludes expense purchasing land.

 

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Ministry of Finance, Policy Research Institute.