Bank survey shows Japan’s businesses turning pessimistic

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Business sentiment among big Japanese manufacturers worsened in the first quarter of this year. That’s according to a Bank of Japan survey of business sentiments called “tankan.” It was the fifth straight decline in manufacturers’ sentiments in the quarterly survey. The central bank’s survey released Monday showed manufacturers’ sentiments stood at plus 1, down from plus 7 in December. It’s the worst result since December 2020. However, sentiments among non-manufacturers improved one point to plus 20, marking the fourth straight quarter of improvement. The Japanese economy has been hit by inflationary pressures, even as it sees continuing deflation.