The Bank of Japan's quarterly Tankan survey revealed on Friday that sentiment for its large manufacturers' index plunged in the fourth quarter of 2012, showing a score of -12.
That was worse than forecasts for a score of -10 after coming in at -3 in the third quarter.
The outlook for the next quarter also missed forecasts, coming with a score of -10 versus expectations for -9 after showing -3 in the previous three months.
The large non-manufacturers index also missed forecasts with a score of 4 versus expectations for a score of 5 and down from 8 in Q3. The outlook also missed expectations, coming in at 3 versus forecasts for 5, which would have been unchanged from the previous three months.
Large all industry capex surprised to the upside, now seen higher by 6.4 percent for the current fiscal year - well above forecasts for 5.4 percent and up from 6.4 seen in the previous three months.
Medium-sized manufacturers fell to -12 from -6, while the outlook plunged to -20. Medium-sized non-manufacturers dipped from 2 to -1, while the forecast was down to -7 from -3.
Small-sized manufacturers fell from -14 to -18, while the outlook for Q4 plunged to -26 from -16. Small-sized non-manufacturers dropped from -9 to -11, while the outlook fell from -16 to -19.
The all industries index inched lower, from -6 in Q3 to -9 in the fourth quarter - and it's expected to plummet to -15 in the first quarter of 2013.
The indices are calculated by deducting the percentage of respondents who say conditions are bad from those who say they are good. Negative readings mean pessimists outnumber optimists.
by RTT Staff Writer
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