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| Version 2 | Version 3 |
|---|---|
| Japan survey shows business sentiment to worsen | Japan survey shows business sentiment to worsen |
| (about 11 hours later) | |
| Japan's big manufacturers expect conditions to worsen in the coming three months, according to the Bank of Japan's Tankan survey. | Japan's big manufacturers expect conditions to worsen in the coming three months, according to the Bank of Japan's Tankan survey. |
| But the decline in business sentiment was not as bad as many expected, leading to questions of accuracy. | But the decline in business sentiment was not as bad as many expected, leading to questions of accuracy. |
| The earthquake and tsunami that hit Japan on 11 March have led to rolling power blackouts and a nuclear crisis. | |
| The results of the quarterly Tankan survey are used to shape Japan's monetary policy. | The results of the quarterly Tankan survey are used to shape Japan's monetary policy. |
| The business sentiment index for this June is at minus 2, showing that big manufacturers are pessimistic. | The business sentiment index for this June is at minus 2, showing that big manufacturers are pessimistic. |
| A positive reading indicates the sector is improving. | A positive reading indicates the sector is improving. |
| Accurate results? | Accurate results? |
| In an unprecedented move, the Bank of Japan released separate figures for March, to reflect sentiment before and after the quake. | In an unprecedented move, the Bank of Japan released separate figures for March, to reflect sentiment before and after the quake. |
| The post-quake index for big manufacturers was plus 6, which is the same as it was in the full survey results released on 1 April. | The post-quake index for big manufacturers was plus 6, which is the same as it was in the full survey results released on 1 April. |
| "The positive figure for March strikes me as a bit odd and it's a bit difficult to believe," said Koichi Ogawa from Daiwa SB Investments. | "The positive figure for March strikes me as a bit odd and it's a bit difficult to believe," said Koichi Ogawa from Daiwa SB Investments. |
| "I wonder if the impact of the disaster is really reflected in the result". | "I wonder if the impact of the disaster is really reflected in the result". |
| Some analysts say that the survey results are misleading. | Some analysts say that the survey results are misleading. |
| "Many companies have still been unable to fully grasp the fallout from the earthquake and subsequent nuclear crisis," said Yasuo Yamamoto from Mizuho research institute. | "Many companies have still been unable to fully grasp the fallout from the earthquake and subsequent nuclear crisis," said Yasuo Yamamoto from Mizuho research institute. |