Japanese big manufacturers' confidence likely hit a 6-1/2 year low in the S...
TOKYO - Japanese big manufacturers’ confidence likely hit a 6-1/2 year low in the September quarter, a Reuters poll found, as the U.S.-China trade war and weakening global demand hit the business mood.
It would be the third straight quarterly deterioration and the lowest since March 2013 when the index showed -8. “The intensified U.S.-China trade friction, slowdown in overseas economies and yen’s appreciation hit firms’ business sentiment,” said Tsuyoshi Ueno, senior economist at NLI Research Institute.
“A deterioration in the export environment and concerns over the economic outlook after a sales tax hike in October, big companies are expected to downgrade their caped plans,” said Takeshi Minami, chief economist at Norinchukin Research Institute.
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