Policy Research Institute

 

Business Outlook Survey

(April-June 2018)

Jun.12, 2018

1. Business conditions

Business survey index

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

(%points)

 
 Jan.-Mar.
2018
(previous)
Apr.-Jun.
2018
(present)
Jul.-Sep.
2018
(outlook)
Oct.-Dec.
2018
(outlook)
Corporations with capital of 1 billion yen or over
 All industries3.3-2.06.97.9
Manufacturing2.9-3.28.011.2
Non-manufacturing3.4-1.46.36.2
Corporations with capital of 100 million to 1 billion yen
 All industries0.8-1.06.18.5
Manufacturing-2.6-1.16.513.9
Non-manufacturing1.8-1.06.06.9
Corporations with capital of 10 to 100 million yen
 All industries-9.9-10.6-3.30.8
Manufacturing-8.0-10.1-5.13.4
Non-manufacturing-10.3-10.7-3.00.3

2. Domestic economic conditions

Business survey index

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

(%points)

 
 Jan.-Mar.
2018
(previous)
Apr.-Jun.
2018
(present)
Jul.-Sep.
2018
(outlook)
Oct.-Dec.
2018
(outlook)
Corporations with capital of 1 billion yen or over
 All industries8.67.26.95.8
Manufacturing8.05.65.64.0
Non-manufacturing8.98.07.56.7
Corporations with capital of 100 million to 1 billion yen
 All industries8.16.96.76.6
Manufacturing11.07.45.99.7
Non-manufacturing7.36.86.95.7
Corporations with capital of 10 to 100 million yen
 All industries-3.4-4.3-2.7-0.5
Manufacturing-1.9-2.4-5.11.3
Non-manufacturing-3.7-4.7-2.2-0.8

3. Employment

Business survey index

(Difference of "insufficient"-"excessive")

(%points)

 
 End of Mar.
2018
(previous)
End of Jun.
2018
(present)
End of Sep.
2018
(outlook)
End of Dec.
2018
(outlook)
Corporations with capital of 1 billion yen or over
 All industries21.918.815.714.3
Manufacturing17.214.511.910.6
Non-manufacturing24.321.017.616.2
Corporations with capital of 100 million to 1 billion yen
 All industries34.833.128.627.9
Manufacturing32.333.127.326.5
Non-manufacturing35.533.129.028.3
Corporations with capital of 10 to 100 million yen
 All industries31.929.526.926.1
Manufacturing33.331.727.927.4
Non-manufacturing31.629.126.725.8

4. Sales (compared with the previous year)

(%)

 
 FY 20181st half
FY 2018
2nd half
FY 2018
All industries2.12.61.7
Manufacturing3.02.63.4
Non-manufacturing1.72.61.0

5. Ordinary profits (compared with the previous year)

(%)

 
 FY 20181st half
FY 2018
2nd half
FY 2018
All industries-1.5-3.80.7
Manufacturing-3.1-9.73.8
Non-manufacturing-0.8-0.9-0.7

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

(%)

 
 FY 20181st half
FY 2018
2nd half
FY 2018
All industries5.411.01.0
Manufacturing15.121.39.9
Non-manufacturing0.15.0-3.8

Note: Excludes expense purchasing land.