print PRINT

ECONOMY

Opinion poll & results of Nikkei survey of 100 major companies

Questions & answers (%)

 

Q: What is your assessment of the current global economy?

 

(1) It is expanding

3.4

(2) It is expanding moderately

89.7

(3) It is leveling off

6.2

(4) It is worsening moderately

0.7

(5) It is worsening

0.0

 

  • Q: (Only for those who gave answer (1) or (2) to the foregoing question) Select up to two reasons [for your answer].

 

(1) U.S. President Donald Trump’s policies

0.7

(2) Expansion of the U.S. economy

82.2

(3) Improvement in the European economy

28.9

(4) Expansion of the Chinese economy

34.1

(5) Economic growth in newly emerging nations (excluding China)

26.7

(6) Rise in prices of resources and crude oil

0.7

(7) Fall in prices of resources and crude oil

0.0

(8) Decrease in geopolitical risks, including terrorism

1.5

(9) Stability in the world financial system

3.0

(10) Political stability in Europe

0.7

(11) Stability in DPRK situation

0.7

(12) Other answers (O/A)

3.7

 

  • Q: (Only for those who gave answer (3) to the foregoing question) Select up to two reasons [for your answer].

 

(1) U.S. President Donald Trump’s policies

44.4

(2) Sluggishness in the U.S. economy

11.1

(3) Delay in economic recovery in Europe

22.2

(4) Sluggishness in the Chinese economy

22.2

(5) Economic stagnation in newly emerging nations (excluding China)

33.3

(6) Rise in prices of resources and crude oil

11.1

(7) Fall in prices of resources and crude oil

0.0

(8) Increase in geopolitical risks, including terrorism

22.2

(9) Increasing instability in the world financial system

0.0

(10) Growing political instability in Europe

22.2

(11) Growing tensions over DPRK situation

0.0

(12) Simultaneous drop in stock prices worldwide

0.0

(13) Rise in U.S. long-term interest rates

22.2

(14) Growing instability in the Middle East situation

0.0

(15) O/A

0.0

 

  • Q: (Only for those who gave answer (4) or (5) to the foregoing question) Select up to two reasons [for your answer].

 

(1) U.S. President Donald Trump’s policies

0.0

(2) Worsening of the U.S. economy

100.0

(3) Economic recession in Europe

0.0

(4) Worsening of the Chinese economy

0.0

(5) Worsening of economies of newly emerging nations (excluding China)

0.0

(6) Rise in prices of resources and crude oil

0.0

(7) Fall in prices of resources and crude oil

0.0

(8) Increase in geopolitical risks, including terrorism

0.0

(9) Increasing instability in the world financial system

0.0

(10) Growing political instability in Europe

0.0

(11) Growing tensions in DPRK situation

0.0

(12) Simultaneous drop in stock prices worldwide

0.0

(13) Rise in U.S. long-term interest rates

100.0

(14) Growing instability in Middle East situation

0.0

(15) O/A

0.0

 

Q: What is your forecast for the global economy six months from now (i.e., around December 2018)?

 

(1) It will be expanding

2.8

(2) It will be expanding moderately

76.5

(3) It will be leveling off

15.1

(4) It will be worsening moderately

2.8

(5) It will be worsening

0.0

      No answer (N/A)

2.8

 

  • Q: (Only for those who gave answer (1) or (2) to the foregoing question) Select up to two reasons [for your answer].

 

(1) U.S. President Donald Trump’s policies

0.9

(2) Expansion of the U.S. economy

83.5

(3) Improvement in the European economy

31.3

(4) Expansion of the Chinese economy

32.2

(5) Economic growth in newly emerging nations (excluding China)

27.8

(6) Rise in prices of resources and crude oil

0.0

(7) Fall in prices of resources and crude oil

0.0

(8) Decrease in geopolitical risks, including terrorism

0.9

(9) Stability in the world financial system

1.7

(10) Political stability in Europe

0.9

(11) Stability in DPRK situation

0.0

(12) O/A

2.6

 

  • Q: (Only for those who gave answer (3) to the foregoing question) Select up to two reasons [for your answer].

 

(1) U.S. President Donald Trump’s policies

54.5

(2) Sluggishness in the U.S. economy

27.3

(3) Delay in economic recovery in Europe

9.1

(4) Sluggishness in the Chinese economy

31.8

(5) Economic stagnation in newly emerging nations (excluding China)

9.1

(6) Rise in prices of resources and crude oil

13.6

(7) Fall in prices of resources and crude oil

0.0

(8) Increase in geopolitical risks, including terrorism

4.5

(9) Increasing instability in the world financial system

0.0

(10) Growing political instability in Europe

18.2

(11) Growing tensions in DPRK situation

4.5

(12) Worldwide collapse of stock prices

0.0

(13) Rise in U.S. long-term interest rates

22.7

(14) Growing instability in the Middle East situation

4.5

(15) O/A

18.2

 

  • Q: (Only for those who gave answer (4) or (5) to the foregoing question) Select up to two reasons [for your answer].

 

(1) U.S. President Donald Trump’s policies

25.0

(2) Worsening of the U.S. economy

50.0

(3) Economic recession in Europe

25.0

(4) Worsening of the Chinese economy

25.0

(5) Worsening of economies of newly emerging nations (excluding China)

25.0

(6) Rise in prices of resources and crude oil

0.0

(7) Fall in prices of resources and crude oil

0.0

(8) Increase in geopolitical risks, including terrorism

0.0

(9) Increasing instability in the world financial system

0.0

(10) Growing political instability in Europe

0.0

(11) Growing tensions in DPRK situation

0.0

(12) Worldwide collapse of stock prices

0.0

(13) Rise in U.S. long-term interest rates

50.0

(14) Growing instability in the Middle East situation

0.0

(15) O/A

0.0

 

Q: The U.S. will have its midterm elections in 2018. Select up to three items that you see as risk factors for the global economy in 2018?

 

(1) Slowdown in the U.S. economy

23.4

(2) Political deadlock in the U.S.

36.6

(3) Slowdown in the Chinese economy

40.7

(4) Growing tensions in DPRK situation

6.2

(5) Slowdown in economies of newly emerging nations (excluding China)

6.9

(6) Growing instability in the Middle East situation

13.8

(7) Political deadlock in Russia

0.0

(8) Growing political instability in Europe

12.4

(9) Increasing instability in the world financial system

9.7

(10) Increase in geopolitical risks, including terrorism

15.2

(11) Rise in prices of resources and crude oil

15.2

(12) Fall in prices of resources and crude oil

0.7

(13) Spread of protectionist policies

67.6

(14) Spread of populism

10.3

(15) Worldwide collapse of stock prices

3.4

(16) Rise in U.S. long-term interest rates

10.3

(17) O/A

6.2

 

Q: What is your assessment of the current U.S. economy?

 

(1) It is expanding

14.5

(2) It is expanding moderately

82.0

(3) It is leveling off

2.1

(4) It is worsening moderately

0.7

(5) It is worsening

0.0

      N/A

0.7

 

Q: How will your company’s capital investment in the U.S. economy in fiscal 2018 compare with that in fiscal 2017?

 

(1) Fiscal 2018 will exceed fiscal 2017

8.3

(2) Exceed slightly

12.4

(3) No change

40.0

(4) Slightly lower

3.4

(5) Lower

1.4

      N/A

34.5

 

Q: Which one of the following best describes the impact of the Trump administration’s protectionist policies on your company?

 

(1) Positive

0.0

(2) Generally positive

0.0

(3) Not sure

42.8

(4) Generally negative

38.6

(5) Negative

10.3

     N/A

8.3

 

  • Q: (Only for those who gave answer (4) or (5) to the foregoing question) Select up to three reasons [for your answer].

 

(1) Worsening of Japan-U.S. relations

12.7

(2) Decrease in sales volume to U.S.

19.7

(3) Decrease in profits in U.S. market

18.3

(4) My company is forced to reorganize production bases

4.2

(5) Deterioration of other major countries’ ties with the U.S.

32.4

(6) Growing instability in the global economy

70.4

(7) My company is forced to expand operations in countries other than the U.S.

1.4

(8) O/A

33.8

 

Q: Which one of the following best describes the impact of the Trump administration’s protectionist policies on the global economy?

 

(1) Positive

0.0

(2) Generally positive

0.0

(3) Not sure

13.8

(4) Generally negative

49.0

(5) Negative

31.7

     N/A

5.5

 

  • Q: (Only for those who gave answer (4) or (5) to the foregoing question) Select up to three reasons [for your answer].

 

(1) Worsening of Japan-U.S. relations

6.8

(2) Worsening of U.S. economy

17.9

(3) Worsening of Japanese economy

11.1

(4) Worsening of EU economy

4.3

(5) Worsening of Chinese economy

20.5

(6) Growing instability in the global economy

80.3

(7) Growing instability in global security

12.8

(8) Worsening of U.S.-EU relations

30.8

(9) Worsening of U.S.-China relations

46.2

(10) Worsening of U.S.-Russia relations

0.9

(11) O/A

10.3

 

Q: What kind of countermeasures do you think should be taken to address the protectionist policies of the Trump administration? (Select up to three.)

 

(1) Japan should seek to have U.S. retract its protectionist policies through bilateral consultations

22.8

(2) Japan should coordinate with the EU and seek to have the U.S. retract its protectionist policies

64.1

(3) Japan should impose its own retaliatory tariff on the U.S.

0.7

(4) Japan should coordinate with the EU and impose retaliatory tariff on the U.S.

4.1

(5) Japan should request WTO dispute consultations with the U.S.

0.0

(6) Japan should coordinate with the EU and request WTO dispute consultations with the U.S.

20.0

(7) My company will shift its production from non-U.S. locations overseas to the U.S.

4.1

(8) My company will increase its operations outside the U.S.

4.8

(9) O/A

10.3

 

Q: What are your company’s plans for investing in the United States in the future?  

 

(1) Increase investment

16.6

(2) Slightly increase

23.4

(3) We have no operations in the United States, but we will invest in the future

0.7

(4) Not change

41.3

(5) Slightly decrease

1.4

(6) Decrease

0.0

(7) We have no operations in the United States, and we also have no plans to invest

7.6

      N/A

9.0

 

  • Q: (Only for those who gave answers (1) to (3) to the foregoing question) Select up to two reasons for your view [on investing in the U.S.].

 

(1) Major tax cuts under the Trump administration

5.1

(2) Deregulation under the Trump administration

3.4

(3) Development of good ties with the U.S. administration

3.4

(4) Reduction of energy costs

5.1

(5) President Trump’s announcement that he is considering having the U.S. return to the TPP

0.0

(6) Expansion of the U.S. economy

61.0

(7) Increase of duties on imports

1.7

(8) Renegotiation of NAFTA

0.0

(9) O/A

47.5

 

  • Q: (Only for those who gave answers (1) to (3) to the foregoing question) Select up to two fields for priority investment.

 

(1) Manufacturing

35.6

(2) Sales

39.0

(3) Research and development

23.7

(4) New operations

16.9

(5) M&A

22.0

(6) Investment in a start-up

3.4

(7) O/A

6.8

 

Q: Which one of the following best describes the impact on your company of the DPRK’s recent willingness to engage in dialogue?

 

(1) Very positive

0.0

(2) Positive

5.5

(3) Not sure

86.9

(4) Negative

0.0

(5) Very negative

0.0

     N/A

7.6

 

  • Q: (Only for those who gave answer (1) or (2) to the foregoing question) Select up to three reasons [for your answer].

 

(1) Yen appreciation

0.0

(2) Yen depreciation

25.0

(3) Stability in international logistics

25.0

(4) Improvement in Japan-DPRK ties

25.0

(5) Improvement in China-DPRK ties

12.5

(6) Improvement in Russia-DPRK ties

0.0

(7) Improvement in U.S.-DPRK ties

50.0

(8) Improvement in U.S.-China ties

25.0

(9) Expansion of South Korean economy

12.5

(10) Expansion of domestic personal consumption

0.0

(11) Expansion of Asian personal consumption

0.0

(12) Expansion of Asian production

0.0

(13) Expansion of tourism demand in Asia

37.5

(14) Increase in business trips in Asia

12.5

(15) Rise in prices of resources and crude oil

0.0

(16) Fall in prices of resources and crude oil

0.0

(17) O/A

0.0

 

  • Q: (Only for those who gave answer (3) or (4) to the foregoing question) Select up to three reasons [for your answer].

 

(1) Yen appreciation

0.0

(2) Yen depreciation

0.0

(3) Instability in international logistics

0.0

(4) Worsening of Japan-DPRK ties

0.0

(5) Worsening of China-DPRK ties

0.0

(6) Worsening of Russia-DPRK ties

0.0

(7) Worsening of U.S.-DPRK ties

0.0

(8) Worsening of U.S.-China ties

0.0

(9) Sluggishness of South Korean economy

0.0

(10) Sluggishness in domestic personal consumption

0.0

(11) Sluggishness in Asian personal consumption

0.0

(12) Sluggishness in Asian production

0.0

(13) Sluggishness in tourism demand in Asia

0.0

(14) Sluggishness in business trips in Asia

0.0

(15) Rise in prices of resources and crude oil

0.0

(16) Fall in prices of resources and crude oil

0.0

(17) O/A

0.0

 

Q: Which one of the following best describes the impact on the global economy of the DPRK’s recent willingness to engage in dialogue?

 

(1) Very positive

0.0

(2) Positive

17.2

(3) Not sure

77.3

(4) Negative

0.0

(5) Very negative

0.0

     N/A

5.5

 

  • Q: (Only for those who gave answer (1) or (2) to the foregoing question) Select up to three reasons [for your answer].

 

(1) Expansion of South Korean economy

20.0

(2) Expansion of Japanese economy

4.0

(3) Expansion of Chinese economy

12.0

(4) Expansion of Asian economy

28.0

(5) Stability in international logistics

16.0

(6) Rise in prices of resources and crude oil

0.0

(7) Fall in prices of resources and crude oil

0.0

(8) Expansion in personal consumption

0.0

(9) Stability in the world financial system

36.0

(10) Expansion of capital investment

4.0

(11) Expansion of international trade

16.0

(12) O/A

28.0

 

  • Q: (Only for those who gave answer (3) or (4) to the foregoing question) Select up to three reasons [for your answer].

 

(1) Stagnation in South Korean economy

0.0

(2) Stagnation in Japanese economy

0.0

(3) Stagnation in Chinese economy

0.0

(4) Stagnation in Asian economy

0.0

(5) Turmoil in international logistics

0.0

(6) Rise in prices of resources and crude oil

0.0

(7) Fall in prices of resources and crude oil

0.0

(8) Stagnation in personal consumption

0.0

(9) Increasing instability in the world financial system

0.0

(10) Stagnation in capital investment

0.0

(11) Stagnation in international trade

0.0

(12) O/A

0.0

 

[Polling methodology: The Nikkei questionnaire survey targets presidents (including chairpersons) of major Japanese companies once every three months. The recent poll was taken from June 7–25. Responses were received from 145 company executives.]

 

Note: Figures are rounded off.

 

(Abridged)

  • Ambassador
  • Ukraine
  • OPINION POLLS
  • COVID-19
  • Trending Japan