News Summary: Japan business sentiment darkening

AP News
Posted: Dec 14, 2012 1:15 PM
News Summary: Japan business sentiment darkening

JAPAN JITTERS: A Bank of Japan survey showed manufacturers are growing increasingly pessimistic, adding to gloom over the country's economic outlook.

TANKING TANKAN: The "tankan" index for the December quarter slumped to minus 12 from minus 3 in the previous quarter, a result that was much worse than expected. A reading below zero means pessimists outnumber optimists.

CHINA CHAIN: The report largely blamed tensions with China, which have slammed exports to one of Japan's biggest markets, for the deterioration in sentiment. The survey raises the likelihood of further monetary easing by the central bank at its policy meeting next week.