TOKYO: Confidence at big Japanese manufacturers worsened in January-March and is seen turning negative in the second quarter as a slumping yen ramped up the costs of raw material imports, a survey showed, complicating Tokyo’s stimulus-driven campaign to revive the economy.
The quarterly poll by the Ministry of Finance and the Cabinet Office released yesterday suggests the drawbacks of a weak yen may be outweighing its benefits, which have not spread to broader sectors of the economy.
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