ID :
33030
Sat, 11/29/2008 - 23:07
Auther :
Shortlink :
https://oananews.org//node/33030
The shortlink copeid
Small firms` business confidence logs worst level on record: polls
TOKYO, Nov. 29 Kyodo - Business sentiment among small and midsize companies has deteriorated to the worst level on record, with falls in exports of automobiles and home appliances hitting subcontractors, according to recent surveys by two government-affiliated financial institutions.
The index of business confidence among 1,000 small and midsize companies
covered in a Shoko Chukin Bank survey came to 35.1 in November, down 2.5 points
from October and marking the lowest level since the bank began the poll in
1985.
By sector, the index for automobiles and other transport machinery dropped 15
points to 22, while the index for metal products was down 11 points to 31, the
survey, released Friday, said.
A separate survey by Japan Finance Corp. found that 14.3 percent of 576
companies responding to the poll for November said they are considering cutting
jobs, up from 9.6 percent in October, signaling further contraction in the
nation's labor market.
Weak data in the surveys are likely to spark a public call for the government
to speed up the implementation of stimulus measures to bolster the economy.
The government's emergency lending support system has drawn about 27,000 cases
of usage since being established about a month ago as banks have become
reluctant to lend amid the global financial crisis.
The global financial turmoil has slowed growth in the world economy, prompting
leading industries such as automakers, steelmakers and electric machinery
makers to reduce production. Major companies' hesitance about capital spending
led to slumps in sales and order receipts by small and midsize companies.
''Companies have been sharply increasing the elimination of part-time jobs,''
said a senior official at the Ministry of Economy, Trade and Industry. ''The
employment situation will become much worse in the future.''
Companies anticipating falls in sales in the next three months outnumbered
those expecting sharp sales increase, according to the Japan Finance Corp.
survey, which covered 900 small and midsize companies and was released
Thursday.
==Kyodo
The index of business confidence among 1,000 small and midsize companies
covered in a Shoko Chukin Bank survey came to 35.1 in November, down 2.5 points
from October and marking the lowest level since the bank began the poll in
1985.
By sector, the index for automobiles and other transport machinery dropped 15
points to 22, while the index for metal products was down 11 points to 31, the
survey, released Friday, said.
A separate survey by Japan Finance Corp. found that 14.3 percent of 576
companies responding to the poll for November said they are considering cutting
jobs, up from 9.6 percent in October, signaling further contraction in the
nation's labor market.
Weak data in the surveys are likely to spark a public call for the government
to speed up the implementation of stimulus measures to bolster the economy.
The government's emergency lending support system has drawn about 27,000 cases
of usage since being established about a month ago as banks have become
reluctant to lend amid the global financial crisis.
The global financial turmoil has slowed growth in the world economy, prompting
leading industries such as automakers, steelmakers and electric machinery
makers to reduce production. Major companies' hesitance about capital spending
led to slumps in sales and order receipts by small and midsize companies.
''Companies have been sharply increasing the elimination of part-time jobs,''
said a senior official at the Ministry of Economy, Trade and Industry. ''The
employment situation will become much worse in the future.''
Companies anticipating falls in sales in the next three months outnumbered
those expecting sharp sales increase, according to the Japan Finance Corp.
survey, which covered 900 small and midsize companies and was released
Thursday.
==Kyodo
