Confidence among Japan's biggest manufacturers has tumbled to the lowest level since 2009, a key survey showed Wednesday as the coronavirus pandemic hits global demand and disrupts production.
The Bank of Japan's June Tankan business survey – a quarterly poll of about 10,000 companies – showed a reading of minus 34 among major manufacturers, the lowest level since June 2009 when the global financial crisis hit the world's third-largest economy.
The shock headline reading compares with market expectations of minus 31, and is worse than minus 8 in the previous survey in March, the first negative reading in seven years.
Chengdu boosts innovation efforts in new economy
APD | Major US weakness in the "duel" with China
WHO advance team concludes China groundwork mission to identify COVID-19 origins
China to punish Luckin Coffee for financial fraud
Foxconn, Samsung apply for India's smartphone scheme
Homicides surge in 50 largest cities in U.S.: report