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

To: Don Green who wrote (766)	4/1/2001 9:45:40 PM
From: Don Green	Respond to of 48824

BOJ Tankan Shows Sentiment Deteriorates Rapidly Monday, April 2, 2001 TOKYO (Dow Jones)--Business sentiment deteriorated sharply, worsening for the first time in nine quarters, a key survey showed Monday, raising concerns that a rapid slowdown in corporate activity could sap vigor from Japan's already frail economy. The Bank of Japan's quarterly tankan survey of corporate sentiment showed that the business condition diffusion index for large manufacturers worsened to minus five from plus 10 in the December survey, highlighting the damaging effects of slowing exports and slumping stock prices on corporate Japan. Economists surveyed by Dow Jones Newsires had forecast on average that the diffusion index (DI) for large manufacturers would stand at zero. The diffusion index measures the percentage of companies saying business conditions are good minus those saying they are bad. Revealing that the deterioration in business sentiment was broad based across the corporate sector, the diffusion index for large non-manufacturers worsened to minus 13 from minus 10 in the December survey, while the diffusion index for small manufacturers worsened to minus 27 from minus 16. The tankan provides clear evidence that the economy is stalling and likely heralds slower economic growth this year.