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Japan large manufacturers' sentiment deteriorated notably in the fourth quarter, the business outlook survey published by the Ministry of Finance showed on Monday.
At -3.6, the business survey index of large manufacturers turned negative in the fourth quarter, down from +1.7 in the third quarter. The index is forecast to rise to +1.4 in the next quarter.
Meanwhile, for large non-manufacturers, the business survey index rose to 2.7 from -0.2 in the third quarter. But the score is forecast to weaken to 1.9 in the first quarter of 2023.
Consequently, the overall BSI for overall large industries stood at +0.7 versus +0.4 a quarter ago. For the coming quarter, the score is seen at 1.8.
