Japan's large manufacturers' sentiment tumbles to lowest level in 11 years

Source: Xinhua | 2020-07-02

Japan's large manufacturers' business confidence tumbled in June owing to the adverse economic impact caused by the coronavirus pandemic, the Bank of Japan (BOJ) said in its Tankan survey report on Wednesday.

The sentiment index plummeted to minus 34 in the recording period, marking the lowest level since June 2009, with the latest reading coming on the heels of a reading of minus 8 booked in March, the BOJ said.

The reading compares to median analysts forecasts for the sentiment index to tumble to minus 31.

The index for large non-manufacturers, meanwhile, tumbled to minus 17, from 8 booked in March's survey, the BOJ's report also showed.