Confidence among Japan’s small and medium-sized enterprises dropped more-than-expected in April, survey data released by the Shoko Chukin Bank showed Tuesday.
The small business confidence index fell by 2.4 percentage points to 47.4 in April from 49.8 in the previous month. Economists had expected the index to drop to 49.0. It was the first decrease in three months.
The confidence index for the manufacturing sector slipped notably to 46.0 in April from 49.6 in March and that for non-manufacturing decreased slightly to 48.5 from 50.0.
The overall business confidence index for May is forecast to rise to 48.1. The survey respondents expect the manufacturing confidence to fall to 45.6, while non-manufacturing confidence to improve to 50.2.
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