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Montag, 15. Dezember 2008

Japanese business confidence dives

Sentiment among Japanese manufacturers has suffered its sharpest fall in more than three decades, according to the Bank of Japan much-watched Tankan quarterly survey.

The decline in business confidence in the face of international financial turmoil, domestic recession and a drying up of corporate credit left the Tankan’s headline index for the mood of large manufacturers at minus 24 – close to a seven-year low.

The index’s 21-point quarter-on-quarter fall was its worse since August 1974 when business sentiment was battered by the fallout from the surge in oil prices starting in 1973 known as the “oil shock”. ... more details in Financial Times here....

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