Japan Q1 big manufacturers’ mood down, seen falling further ahead -Tankan

(Corrects forecast year for capex)

TOKYO (Reuters) – Japanese big manufacturers’ business confidence worsened in the three months to March compared with the previous quarter, the Bank of Japan’s closely-watched tankan survey showed on Monday.

The headline index for big manufacturers’ sentiment stood at plus 11 in the first quarter, versus plus 10 seen by economists in a Reuters poll, the March tankan survey showed.

The index for June was seen at plus 10, below plus 11 seen by economists.

The survey also showed big firms plan to raise their capital spending by 4.0% in the financial year to March 2025, following a 11.5% increase expected for last fiscal year.

(This story has been corrected to fix the forecast year for capex to last fiscal year, in paragraph 4)

(Reporting by Leika Kihara and Tetsushi Kajimoto; Editing by Kim Coghill and Clarence Fernandez)


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