Japanese manufacturers' confidence sank in the second quarter to levels not seen since the 2009 global financial crisis, underscoring the damage the coronavirus pandemic inflicted on the export-reliant economy.
TOKYO - Japanese manufacturers’ confidence sank in the second quarter to levels not seen since the 2009 global financial crisis, underscoring the damage the coronavirus pandemic inflicted on the export-reliant economy.
The dismal readings reinforce expectations Japan is headed for deep recession due to the fallout from the pandemic. The index measuring big non-manufacturers’ sentiment fell 25 points to -17 in June, the worst reading since December 2009.
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