The Japanese Tankan index in the first quarter showed the maximum decline in 6 years

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Tankan, the index of confidence of large companies in the processing industry of Japan to the economy of the country, in the first quarter of this year was 12 points, down from 19 points in the fourth quarter of last year. As shown by the Bank of Japan, this fall in the index was the most significant in 6 years. According to economists' forecasts, a lower decrease was expected - to 13 points. The survey showed that the plans of large companies for the 2019 fiscal year, which will end on March 31, 2020, suggest an increase in investment by only 1.2%, while according to the results of the past financial year, this figure increased by 13.9%. According to the respondents, their profits will decrease by 1.3%. The confidence index of large Japanese non-production companies in the first quarter was at the level of 21 points, having dropped from 24 points in the previous quarter. A significant decrease - from 14 points to 6 points - was also shown by an indicator determining the level of small business confidence in Japan.

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