Big Japanese companies have grown more pessimistic about economygive higher And the yen has weakened, according to a survey by Kyodo News.
scan of 117 companies found just over halfor 56%, would expect economy to grow this year. that was down sharply than 84% a year Earlier, said the poll released on Monday.
percentage of forecasting companies growth he used to have second minimum in 10 years for Annual and corporate survey also They worried about slowing down in United States and China in 2023.
the war in Ukraine paid prices of oil and other raw materials materials higher while the yen weakened against United States dollarand for The world’s third largest economy.
grim outlook also reflects fears over a possible global stagnation as central banks in The United States and other major economies raise interest rates to counter inflation.
the dollar It rose to about 150 yen at its peak last year From 115 yen at the start of the year. On Tuesday, it was trading At about 130 yen.
only 3% of The companies surveyed said the yen’s weakness was positive for they, with About a third say it was problem Since the costs have been raised of manufacturing and energy inputs, hurting its bottom line.
Japan economy Shrinking at an annual rate of 0.8% rate in July-September with easing of epidemiological precautions in Late summer, allowing natural business Activity and travel to resume. Exports increased by 2.1% in annual terms. growth in the last fiscal year that has ended in March, it was at 2.5%.
Toyota Motor Corp. was among the companies that expected relatively good year. Like other major export companies, it benefits from a lower yen when it brings profits back home earned overseas.
Energy and Communications technology comp also prophesied improvement in The coming months, according to the survey, which will be conducted from late November to mid-December.
Consumer spending has been recovering as Japan ended restrictions on business activity for fight COVID-19 outbreak, even as case numbers are rising in recent weeks. Most companies expect a positive outlook for 2023 cited that as the flagship reason for optimism.
about a third of The companies surveyed said they did not expect a major changes This year, while seven expected a moderate contraction.
