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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (731)	4/2/2000 8:43:00 PM
From: Don Green	Respond to of 48959

BOJ Tankan: Big Manufacturers DI Improves To Minus 9 Monday, April 3, 2000 TOKYO (Dow Jones)--Large companies plan to reduce capital expenditure by 0.6% on average this fiscal year, according to the Bank of Japan's quarterly tankan survey released Monday, suggesting that business investment is recovering mildly as expected. The decrease was smaller than expected by economists surveyed by Dow Jones, who estimated on average a decline of 0.9% in the year that began April 1. Companies invariably issue ultraconservative spending plans ahead of the new year and analysts generally expect upward revisions as the year progresses. The tankan survey also showed that corporate sentiment improved from three months earlier, with the business condition diffusion index for large manufacturers improving to minus 9 - in line with economists' consensus forecast - from minus 17 in the December survey. Large manufacturers predict an average dollar/yen exchange rate of 104.36 yen for the current fiscal year through March 2001, according to the survey. The business conditions diffusion index shows the percentage of companies reporting that conditions are better minus those reporting that conditions are worse. The Bank of Japan surveyed 9,205 companies for the tankan.