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Economic Trends Research, March 2019

Manufacturing industry’s downturn continues mainly in machinery-related businesses
— Domestic economy has worsened for four months in a row —

Overview of March 2019: Signs of entering a recession phase

The economic diffusion index (DI) in March 2019 was 46.9, down 0.3 points from the previous month, and worsened for the fourth consecutive month. A downturn in the manufacturing industry and increased cost burden, etc., became the negative factors, and there is a possibility that the domestic economy has partially entered a recession phase.

Future outlook: Uncertainty has intensified

While a large-scale event, etc., will be a positive factor for the domestic economy, uncertainty has further intensified with overseas risks in addition to sluggish exports and a slowdown in capital investment./p>

Primary points of survey results(summary)

  1. 1 By industry : The economic DI fell below 50 for all 12 businesses in the “manufacturing” industry.
  2. 2 By size : ”SMEs” worsened for the fourth consecutive month. The earnings environment is also severe due to an increase in purchase prices.
  3. 3 By region : Eight of the ten regions worsened partially due to overseas economies and the tendency for warmer winters.
Economic Trends Research, March 2019
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