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Policy Research Institute

 

Business Outlook Survey 

(April-June 2014)

 Jun. 11, 2014

1. Business conditions

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

(%points)

 

 Jan.-Mar.
2014
(previous)

 Apr.-Jun.
2014
(present)

 Jul.-Sep.
2014
(outlook)

 Oct.-Dec.
2014
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 12.7 -14.6 13.4 10.3
 Manufacturing 12.5 -13.9 16.0 13.9
 Non-manufacturing 12.8 -15.0 12.1 8.3
Corporations with capital of 100 million to 1 billion yen
  All industries 8.5 -19.5 9.2 12.2
 Manufacturing 7.2 -16.4 9.9 12.5
 Non-manufacturing 8.9 -20.5 9.1 12.0
Corporations with capital of 10 to 100 million yen
  All industries 0.1 -21.5 -3.7 1.6
 Manufacturing 2.9 -20.2 -4.4 4.6
 Non-manufacturing -0.5 -21.8 -3.6 1.0

 

2. Domestic economic conditions

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

(%points)

 

 Jan.-Mar.
2014
(previous)

 Apr.-Jun.
2014
(present)

 Jul.-Sep.
2014
(outlook)

 Oct.-Dec.
2014
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 29.2 -22.4 19.0 13.1
 Manufacturing 25.1 -20.0 17.2 12.5
 Non-manufacturing 31.4 -23.7 20.0 13.5
Corporations with capital of 100 million to 1 billion yen
  All industries 30.2 -24.2 13.6 15.2
 Manufacturing 26.1 -21.9 11.8 14.3
 Non-manufacturing 31.5 -24.9 14.2 15.5
Corporations with capital of 10 to 100 million yen
  All industries 20.3 -21.5 0.5 5.2
 Manufacturing 18.4 -23.2 1.7 6.9
 Non-manufacturing 20.7 -21.1 0.3 4.8

 

3. Employment

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

(%points)

 

End of Mar.
2014
(previous)

End of Jun.
2014
(present)

End of Sep.
2014
(outlook)

End of Dec.
2014
(outlook)

Corporations with capital of 1 billion yen or over
  All industries 10.0 7.5 6.7 6.8
 Manufacturing 2.4 1.2 0.9 1.6
 Non-manufacturing 14.1 10.8 9.7 9.5
Corporations with capital of 100 million to 1 billion yen
  All industries 17.4 19.9 15.4 15.5
 Manufacturing 8.5 11.2 4.8 5.6
 Non-manufacturing 20.1 22.5 18.5 18.5
Corporations with capital of 10 to 100 million yen
  All industries 19.1 16.0 14.0 14.8
 Manufacturing 16.6 12.6 9.5 10.6
 Non-manufacturing 19.6 16.7 14.9 15.7

 

4. Sales (compared with the previous year)

(%)

 

  FY 2014

  1st half

   FY 2014

  2nd half

   FY 2014

All industries 1.0 1.5 0.5
 Manufacturing 2.2 2.7 1.7
 Non-manufacturing 0.5 1.0 -0.0

          

   

5. Ordinary profits (compared with the previous year)

(%)

 

  FY 2014

  1st half

   FY 2014

  2nd half

   FY 2014

All industries -2.3 -7.2 2.4
 Manufacturing -0.4 -7.9 6.5
 Non-manufacturing -3.0 -7.0 0.6

          

   

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

(%)

 

  FY 2014

  1st half

   FY 2014

  2nd half

   FY 2014

All industries 4.5 14.9 -3.1
 Manufacturing 10.8 25.3 -1.3
 Non-manufacturing 1.5 9.2 -3.9
Note:  Excludes expense purchasing land.