TOKYO, Oct 1 (Reuters) - Business confidence at Japanese big manufacturers worsened in September from three months ago, the Bank of Japan’s closely watched quarterly “tankan” survey showed on Monday. It was the third straight deterioration in sentiment.
The headline index for big manufacturers’ sentiment stood at plus 19 in September, versus plus 21 three months ago, the tankan showed.
The headline index compared with the median estimate of plus 22 in a Reuters poll of analysts, and is expected to stay flat over the next three months, it showed.
The survey also showed big firms plan to raise their capital spending by 13.4 percent in the financial year from April 2018, versus economists’ median estimate of a 14.2 percent gain.
The tankan’s sentiment indexes are derived by subtracting the number of respondents who say conditions are poor from those who say they are good. A positive reading means optimists outnumber pessimists.
Reuters POLL on the survey:
Survey results on the BOJ's website: here (Reporting by Leika Kihara and Tetsushi Kajimoto Editing by Chang-Ran Kim)