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Japan's business confidence drops Japan's business confidence drops
(about 3 hours later)
Business confidence among major manufacturers in Japan is at a record low, according to a wide-ranging survey by the central bank.Business confidence among major manufacturers in Japan is at a record low, according to a wide-ranging survey by the central bank.
Japan's economy is among the worst hit by the global economic crisis.Japan's economy is among the worst hit by the global economic crisis.
Exports Japan has relied upon for growth have collapsed and unemployment has risen.Exports Japan has relied upon for growth have collapsed and unemployment has risen.
The quarterly Tankan survey of more than 10,000 companies is closely watched in Japan as a key indicator of the health of the country's economy.The quarterly Tankan survey of more than 10,000 companies is closely watched in Japan as a key indicator of the health of the country's economy.
Results released by the Bank of Japan show that business confidence among major manufacturers tumbled dramatically, hitting the lowest level ever recorded.Results released by the Bank of Japan show that business confidence among major manufacturers tumbled dramatically, hitting the lowest level ever recorded.
Confidence in other sectors of the economy was also down sharply.Confidence in other sectors of the economy was also down sharply.
Japan is in its deepest economic crisis since World War II.Japan is in its deepest economic crisis since World War II.
Exports nearly halved in February compared to the year before and many iconic companies are facing massive losses.Exports nearly halved in February compared to the year before and many iconic companies are facing massive losses.
Consumers abroad fearful of losing their jobs are buying far fewer Japanese cars and electronic gadgets and other goods.Consumers abroad fearful of losing their jobs are buying far fewer Japanese cars and electronic gadgets and other goods.
Unemployment has reached a three-year high.Unemployment has reached a three-year high.
Many of those still in work face shorter working hours, job-sharing and lower pay.Many of those still in work face shorter working hours, job-sharing and lower pay.
JapanesePrime Minister Taro Aso has called for another big economic stimulus package to be compiled by mid-April. Japanese Prime Minister Taro Aso has called for another big economic stimulus package to be compiled by mid-April.
That is on top of earlier measures valued at 75 trillion yen ($750bn, £524bn).That is on top of earlier measures valued at 75 trillion yen ($750bn, £524bn).
Do you live in Japan? Have these economic changes affected you? What do you make of the changes to the Japanese economy? Can a stimulus plan work? Tell us your thoughts on the story by filling in the form below.Do you live in Japan? Have these economic changes affected you? What do you make of the changes to the Japanese economy? Can a stimulus plan work? Tell us your thoughts on the story by filling in the form below.
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