Confidence among Japanese larger companies deteriorated in the first quarter, survey data from the Ministry of Finance showed on Thursday.
The Business Survey Index, or BSI, of larger firms fell to -10.1 in the first quarter from -6.2 in the fourth quarter of 2019.
However, sentiment is expected to improve in the second quarter of 2020, with the outlook indicator rising to -4.4.
In the manufacturing sector, the BSI of larger firms decreased to -17.2 in the first quarter from -7.8 in the fourth quarter. The outlook index improved to -5.5.
Likewise, the BSI of large non-manufacturers dropped to -6.6 in the first quarter from -5.3 in the previous quarter, while the outlook rose to -3.9.