TOKYO (dpa-AFX) - Large manufacturing in Japan weakened sharply in the second quarter of 2020, the Bank of Japan's quarterly Tankan Survey on business sentiment showed on Wednesday with a diffusion index score of -34.
That missed forecasts for a reading of -31 as expectations were very soft because of the global Covid-19 pandemic. It was down from a score of -8 three months ago.
The outlook came in at -27, also missing expectations for -24 following the -11 score in the previous quarter.
Large all industry capex is now seen higher by 3.2 percent, exceeding expectations for 2.1 percent and up from 1.8 percent in the previous three months.
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