April 1, 2005


Business confidence crumbled last quarter (HIROKO NAKATA, 4/02/05, Japan Times)

Business confidence at Japan's large manufacturers deteriorated sharply in the January-March quarter.

According to the Bank of Japan's "tankan" survey released Friday, the outlook for the next quarter remains cautious.

A slower-than-expected recovery in the information technology sector and high oil prices dented corporate sentiment, despite hopes that the country's economy would soon shake itself out of its lull, economists said.

"Today's tankan became the final blow to expectations that the economy would recover rapidly," said Yasunari Ueno, chief market economist at Mizuho Securities Co.

If Japan were married to Michael Schiavo he'd pull the tube.

Posted by Orrin Judd at April 1, 2005 7:50 PM
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