Business confidence among large companies deteriorated further in the January-March period to hit a new record low as industries across the board faced difficulties with receding domestic and external demand amid the global economic slump, The index of business conditions at companies capitalized at ¥1 billion or more came to minus 51.3 on an all-industry basis, down 15.6 points from minus 35.7 in the October-December quarter, according to the joint survey by the Cabinet Office and Finance Ministry.
The latest figure, released Monday, set a record low for the second straight month. The government started compiling the quarterly poll in April-June 2004.
For the first three months this year, the business confidence index for large manufacturers stood at a record minus 66.0, down from minus 44.5 in the previous quarter. The index for large nonmanufacturers was a record minus 42.6, down from minus 30.5 in the October-December period.