Japan business sentiment logs longest drop since Lehman: BOJ Tankan

Closely watched indicator shows economy in pullback after tax hike

An automobile factory in Toyota, Japan. The latest Bank of Japan Tankan survey is the first to be announced since the Abe government raised the consumption tax on Oct. 1.

MITSURU OBE, Nikkei staff writer

December 13, 2019 08:58 JST

Updated on December 13, 2019 10:31 JST

TOKYO -- Sentiment among Japan's large manufacturers slid for the fourth straight quarter in October-December, marking the longest decline since the Lehman crisis, the Bank of Japan's latest Tankan survey showed on Friday.

The closely watched index of sentiment among large manufacturers fell to zero from plus 5 in the July-September period, marking the lowest reading since 2013. Economists had expected a reading of 2, according to a survey of 19 economists polled by Nikkei group company QUICK.