The business survey index of large manufacturing firms in Japan jumped to 4.5% in the third quarter of 2024 from -1% in the second quarter, defying market expectations for a deterioration to -2.5%. The index also turned positive for the first time in three quarters even after the Bank of Japan raised interest rates in July and signaled plans to hike rates steadily. The survey was also conducted as final data showed that Japan’s economy grew an annualized 2.9% in the second quarter, lower than the advance figure of 3.1% and market forecasts of 3.2%. The business survey index measures the percentage of firms that expect the business environment to improve from the previous quarter minus the percentage that expect it to worsen. Looking ahead, large Japanese manufacturing firms expect business conditions to improve further in the coming months, with an outlook of 8.9% in the fourth quarter. source: Cabinet Office, Japan

Business Survey Index Large Manufacturing Firms in Japan increased to 4.50 percent in the third quarter of 2024 from -1 percent in the second quarter of 2024. Business Survey Index Large Manufacturing Firms in Japan averaged -1.20 percent from 2004 until 2024, reaching an all time high of 21.60 percent in the fourth quarter of 2020 and a record low of -66.00 percent in the first quarter of 2009. This page includes a chart with historical data for Japan Business Survey Index Large Manufacturing Firms. Japan Business Survey Index Large Manufacturing Firms - data, historical chart, forecasts and calendar of releases - was last updated on November of 2024.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-06-12 11:50 PM
BSI Large Manufacturing QoQ
Q2 -1.0% -6.7% -5.2% 2.0%
2024-09-11 11:50 PM
BSI Large Manufacturing QoQ
Q3 4.5% -1.0% -2.5% 1.2%
2024-12-10 11:50 PM
BSI Large Manufacturing QoQ
Q4


Related Last Previous Unit Reference
BSI Large Manufacturing 4.50 -1.00 percent Sep 2024
Changes in Inventories 1354.90 2023.10 JPY Billion Jun 2024
Coincident Index 115.70 114.00 points Sep 2024
Eco Watchers Survey Current 47.50 47.80 points Oct 2024
Eco Watchers Survey Outlook 48.30 49.70 points Oct 2024
Leading Economic Index 109.40 106.90 Points Sep 2024
Machinery Orders MoM -0.70 -1.90 percent Sep 2024
New Orders 952.79 1029.16 JPY Billion Aug 2024

Japan Business Survey Index Large Manufacturing Firms
The Business Outlook Survey is an analysis of the business leaders' assessments and forecasts of and for the economy in order to gain basic information for keeping track of economic trends. It covers about 15,000 companies that have established their headquarters or principal offices in Japan.
Actual Previous Highest Lowest Dates Unit Frequency
4.50 -1.00 21.60 -66.00 2004 - 2024 percent Quarterly
NSA


News Stream
Japan Business Mood Jumps in Q3
The business survey index of large manufacturing firms in Japan jumped to 4.5% in the third quarter of 2024 from -1% in the second quarter, defying market expectations for a deterioration to -2.5%. The index also turned positive for the first time in three quarters even after the Bank of Japan raised interest rates in July and signaled plans to hike rates steadily. The survey was also conducted as final data showed that Japan’s economy grew an annualized 2.9% in the second quarter, lower than the advance figure of 3.1% and market forecasts of 3.2%. The business survey index measures the percentage of firms that expect the business environment to improve from the previous quarter minus the percentage that expect it to worsen. Looking ahead, large Japanese manufacturing firms expect business conditions to improve further in the coming months, with an outlook of 8.9% in the fourth quarter.
2024-09-12
Japan Q2 Business Mood Falls Much Less than Expected
The business survey index of large manufacturing firms in Japan shrank by -1.0% in Q2 of 2024, much softer than a 6.7% drop in the prior period and far better than market forecasts of a 5.2% decline. While marking the second straight quarter of a negative reading, the latest result came after Japanese companies posted solid earnings during the first three months of the year and ramped up spending. At the same time, bets grew that the Bank of Japan would stay accommodative even as it moved in March by ending a negative interest rate for the first time in 17 years after achieving stable inflation. Manufacturers anticipated conditions to recover in the upcoming quarters, bouncing back by 9.2% in Q3 and 10.7% in Q4.
2024-06-12
Japan Business Mood Falls to 1-Year Low
The business survey index of large manufacturing firms in Japan fell sharply to -6.7% in the first quarter of 2024 from 5.7% in the previous quarter, posting the lowest reading in a year and defying expectations for an improvement to 6.2%. The survey was conducted as official data showed that Japan’s economy fell into a technical recession in the fourth quarter of last year, but was later on revised to show a return to growth. Respondents also grappled with global economic uncertainties and concerns that the Bank of Japan could start raising interest rates soon. The business survey index measures the percentage of firms that expect the business environment to improve from the previous quarter minus the percentage that expect it to worsen. Looking ahead, large Japanese manufacturing firms expect business conditions to improve in the coming months, with an outlook of 1.34% in the second quarter and 7.5% in the third quarter.
2024-03-12