Economy

Japan big manufacturers' mood down in Q1 - BOJ tankan

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Kiyoshi Ota | Bloomberg | Getty Images

Confidence at big Japanese manufacturers worsened in the three months to March and is seen falling further ahead, a closely watched central bank survey showed on Friday.

The headline index for big manufacturers' sentiment stood at plus 6 in March, down from plus 12 seen three months ago, the Bank of Japan's quarterly "tankan" survey showed.

That compared with the median estimate of plus 8 in a Reuters poll of economists.

Analysts don't think Japan wants another sales tax hike

Big firms plan to cut capital expenditures by 0.9 percent in the fiscal year that started in April, compared with economists' median estimate of a 0.7 percent decline.

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.

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