Policy Research Institute

 

Business Outlook Survey

(July-September 2018)

Sep.12, 2018

1. Business conditions

Business survey index

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

(%points)

 
 Apr.-Jun.
2018
(previous)
Jul.-Sep.
2018
(present)
Oct.-Dec.
2018
(outlook)
Jan.-Mar.
2019
(outlook)
Corporations with capital of 1 billion yen or over
 All industries-2.03.87.65.8
Manufacturing-3.26.59.95.4
Non-manufacturing-1.42.46.56.0
Corporations with capital of 100 million to 1 billion yen
 All industries-1.02.27.04.1
Manufacturing-1.15.412.8-0.2
Non-manufacturing-1.01.35.35.4
Corporations with capital of 10 to 100 million yen
 All industries-10.6-10.0-0.6-3.8
Manufacturing-10.1-13.6-0.1-3.2
Non-manufacturing-10.7-9.2-0.7-3.9

2. Domestic economic conditions

Business survey index

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

(%points)

 
 Apr.-Jun.
2018
(previous)
Jul.-Sep.
2018
(present)
Oct.-Dec.
2018
(outlook)
Jan.-Mar.
2019
(outlook)
Corporations with capital of 1 billion yen or over
 All industries7.26.95.05.0
Manufacturing5.68.33.93.0
Non-manufacturing8.06.25.66.0
Corporations with capital of 100 million to 1 billion yen
 All industries6.94.96.33.8
Manufacturing7.45.19.04.0
Non-manufacturing6.84.85.53.8
Corporations with capital of 10 to 100 million yen
 All industries-4.3-7.3-2.3-4.2
Manufacturing-2.4-8.11.0-2.2
Non-manufacturing-4.7-7.1-2.9-4.6

3. Employment

Business survey index

(Difference of "insufficient"-"excessive")

(%points)

 
 End of Jun.
2018
(previous)
End of Sep.
2018
(present)
End of Dec.
2018
(outlook)
End of Mar.
2019
(outlook)
Corporations with capital of 1 billion yen or over
 All industries18.819.316.815.0
Manufacturing14.516.213.510.7
Non-manufacturing21.020.918.417.1
Corporations with capital of 100 million to 1 billion yen
 All industries33.134.430.627.6
Manufacturing33.135.331.326.4
Non-manufacturing33.134.130.527.9
Corporations with capital of 10 to 100 million yen
 All industries29.527.925.923.5
Manufacturing31.729.525.323.2
Non-manufacturing29.127.626.023.6

4. Sales (compared with the previous year)

(%)

 
 FY 20181st half
FY 2018
2nd half
FY 2018
All industries2.42.82.1
Manufacturing3.53.73.2
Non-manufacturing2.02.51.6

5. Ordinary profits (compared with the previous year)

(%)

 
 FY 20181st half
FY 2018
2nd half
FY 2018
All industries-0.4-2.92.2
Manufacturing-1.8-4.41.0
Non-manufacturing0.3-2.12.7

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

(%)

 
 FY 20181st half
FY 2018
2nd half
FY 2018
All industries9.913.66.9
Manufacturing21.829.016.2
Non-manufacturing3.35.21.8

Note: Excludes expense purchasing land.