Skip to Content

Policy Research Institute

 

Business Outlook Survey 

(October-December 2013)

 Dec. 10, 2013

1. Business conditions

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

(%points)

 

 Jul.-Sep.
2013
(previous)

 Oct.-Dec.
2013
(present)

 Jan.-Mar.
2014
(outlook)

 Apr.-Jun.
2014
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 12.0 8.3 11.8 -4.1
 Manufacturing 15.2 9.7 11.4 -4.6
 Non-manufacturing 10.4 7.5 12.1 -3.9
Corporations with capital of 100 million to 1 billion yen
  All industries 9.6 6.3 8.4 -5.1
 Manufacturing 11.7 6.4 6.9 -5.0
 Non-manufacturing 9.0 6.3 8.9 -5.1
Corporations with capital of 10 to 100 million yen
  All industries -8.7 -0.1 -2.0 -10.7
 Manufacturing -12.7 -5.3 -1.1 -8.0
 Non-manufacturing -7.9 0.9 -2.2 -11.2

 

2. Domestic economic conditions

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

(%points)

 

 Jul.-Sep.
2013
(previous)

 Oct.-Dec.
2013
(present)

 Jan.-Mar.
2014
(outlook)

 Apr.-Jun.
2014
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 23.7 24.6 22.7 -9.3
 Manufacturing 22.0 23.0 18.1 -7.9
 Non-manufacturing 24.6 25.5 25.2 -10.0
Corporations with capital of 100 million to 1 billion yen
  All industries 22.6 26.3 25.2 -9.6
 Manufacturing 18.7 24.0 20.3 -6.0
 Non-manufacturing 23.8 27.0 26.7 -10.7
Corporations with capital of 10 to 100 million yen
  All industries 6.5 13.6 10.8 -15.4
 Manufacturing -0.3 6.2 9.4 -13.5
 Non-manufacturing 7.9 15.1 11.1 -15.7

 

3. Employment

Business survey index
(Difference of "insufficient"-"excessive" )

(%points)

 

End of Sep.
2013
(previous)

End of Dec.
2013
(present)

End of Mar.
2014
(outlook)

End of Jun.
2014
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 5.1 7.9 6.2 2.8
 Manufacturing -2.0 1.1 -0.2 -1.8
 Non-manufacturing 8.9 11.5 9.6 5.3
Corporations with capital of 100 million to 1 billion yen
  All industries 11.7 15.1 12.5 7.3
 Manufacturing 0.7 4.1 2.6 0.5
 Non-manufacturing 15.0 18.4 15.5 9.3
Corporations with capital of 10 to 100 million yen
  All industries 11.4 16.5 12.7 6.4
 Manufacturing 3.7 14.1 11.1 2.9
 Non-manufacturing 12.9 17.0 13.1 7.1

 

4. Sales (compared with the previous year)

(%)

 

  FY 2013

  1st half

   FY 2013

  2nd half

   FY 2013

All industries 3.3 3.3 3.2
 Manufacturing 4.1 2.6 5.5
 Non-manufacturing 2.9 3.6 2.3

          

   

5. Ordinary profits (compared with the previous year)

(%)

 

  FY 2013

  1st half

   FY 2013

  2nd half

   FY 2013

All industries 15.1 29.2 2.9
 Manufacturing 27.9 49.9 10.8
 Non-manufacturing 9.7 21.2 -0.6

          

   

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

(%)

 

  FY 2013

  1st half

   FY 2013

  2nd half

   FY 2013

All industries 11.5 5.9 16.1
 Manufacturing 8.7 -8.6 25.4
 Non-manufacturing 13.2 16.2 10.8
Note:  Excludes expense purchasing land.