01/04/2024 09:50 (UTC)

Japan's business confidence falls for first time in a year amid auto sector woes

Tokyo, Apr 1 (EFE/EPA).- Japanese business confidence took its first hit in four quarters in early 2024, indicating a particularly sharp decline in the automobile sector due to production cuts.

The quarterly economic survey, Tankan, conducted by the Bank of Japan (BoJ), indicated a drop in confidence among large manufacturing firms to 11 points in the three months to March, down from 13 in the previous quarter.

The decline was attributed to the twin pressures of a weaker yen and recent BoJ policy decisions, including a rise in short-term interest rates to 0.1% and the tapering of its decade-long broad monetary easing programme. (Camera: KIMIMASA MAYAMA).

FOOTAGE SHOWS THE CITY OF TOKYO, JAPAN.

Metadata

Date: 01/04/2024 09:48 (UTC)
Credit: EFE
Source: EPA
Topic: Economy, business and finance
Type: Rough cut
Duration: 127 seconds
Reference: 7001350231
Relevance: Normal