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Survey shows weaker confidence in Japan's economy

6:02 AM, Oct 1, 2012   |    comments
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TOKYO (AP) - A quarterly survey by Japan's central bank finds that major Japanese manufacturers are increasingly gloomy over an outlook darkened by weakening growth both at home and overseas.

The Bank of Japan's "tankan" index for the three months that ended in September was minus 3, a worsening from the previous quarter's minus 1.

Sinking exports due to feeble demand in crisis-stricken Europe and anti-Japanese protests in China have reinforced the gloom among leading companies. The index did not retreat as far as the March reading, however, which was at minus 4.

The central bank recently extended its monetary easing, moving to spur lending and forecasting that growth would remain flat in coming weeks.

Manufacturers anticipate that sentiment will remain negative in coming months.






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