“Economic observations” in Japan fall in the past 11 years

In the Japanese economy affected by the new type of coronavirus (Kovid-19) epidemic, “job confidence index observation” decreased from minus 10.1 in the January-March period to minus 47.6 in the April-June period and saw the lowest rate in the last 11 years.

In cooperation with the Ministry of Finance and Cabinet Office (Naikakufu) of Japan, an economic observation report covering more than 14 thousand companies for production and non-production labor markets has been published.

Accordingly, the job confidence index observations of firms with a capital of 1 billion yen ($ 9.3 million) and above fell to minus 47.6 in the April-June period, from minus 10.1 recorded in the January-March quarter.

The confidence index fell to this rate for the first time in the last 11 years since the minus 51 level felt in the first quarter of 2009 after the 2008 financial crisis and the minus 22 level felt in the quarter after the March 2011 tsunami disaster.

In the non-production sectors, the forecasts that fell from minus 6.6 to minus 45.3 in the previous quarter were also significantly worsened in the tourism and entertainment sectors due to the delayed Tokyo Olympics.

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