Large manufacturing in Japan weakened in the first quarter of 2022, the Bank of Japan’s quarterly Tankan Survey of business sentiment showed on Friday with a diffusion index score of +14.
That beat forecasts for a reading of +12 and was down from +18 three months ago.
The outlook came in at +9, missing expectations for +10 and down from +13 in the previous quarter.
Large all industry capex is now seen higher by 2.2 percent, missing forecasts for a gain of 5.0 percent and down from 9.3 percent in the previous three months.
The large non-manufacturers index came in at +9, beating forecasts for +5 and unchanged from the previous month. The outlook was +7, missing forecasts for +8, which would have been unchanged.