TOKYO (AFX-ASIA) - The diffusion index of business sentiment at large manufacturers stood at minus 5 in March, down from plus 10 in the December survey, the Bank of Japan said.
The data was contained in the BoJ's quarterly survey of short-term business conditions, known as the Tankan.
In the December Tankan, the March large manufacturers diffusion index was forecast to deteriorate to plus 7.

The Bank of Japan provided the following diffusion indices for March compared with the December indices:
Large manufacturers - minus 5 vs plus 10
Large non-manufacturers - minus 13 vs minus 10
Mid-sized manufacturers - minus 15 vs plus 2
Mid-sized non-manufacturers - minus 22 vs minus 19
Small manufacturers - minus 27 vs minus 16
Small non-manufacturers - minus 28 vs minus 23

The actual indices contained in the latest report compare with the following forecasts for March released in the previous December survey:

Large manufacturers - plus 7
Large non-manufacturers - minus 8
Mid-sized manufacturers - 0
Mid-sized non-manufacturers - minus 17
Small manufacturers - minus 18
Small non-manufacturers - minus 25

The bank provided the following forecasts for the June indices:
Large manufacturers - minus 8
Large non-manufacturers - minus 11
Mid-sized manufacturers - minus 21
Mid-sized non-manufacturers - minus 23
Small manufacturers - minus 32
Small non-manufacturers - minus 32