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Large manufacturing in Japan weakened in the first quarter of 2023, the Bank of Japan's quarterly Tankan Survey of business sentiment showed on Monday with a diffusion index score of +1.
That missed forecasts for a reading of +3 and was down from +7 three months ago.
The outlook came in at +3, missing expectations for +4 and down from +6 in the previous quarter.
Large all industry capex is now seen higher by 3.2 percent, missing forecast for 4.9 percent and down from 19.2 percent in the previous three months.
The large non-manufacturers index came in at +20, matching forecasts and up from +19. The outlook was +15, missing forecasts for +16 and up from +11 three months earlier.
The small manufacturing index was at -6, while the small non-manufacturing index was at +8.
