Business sentiment among workers in Japan with jobs sensitive to economic trends fell to the lowest level on record in March due to concern over the ongoing spread of the coronavirus, government data showed Wednesday.
The diffusion index of confidence among "economy watchers" such as taxi drivers and restaurant staff fell 13.2 points from February to 14.2, plunging below levels marked in the wake of the 2008-2009 global financial crisis and the massive earthquake and tsunami in northeastern Japan in 2011.
The Cabinet Office said business sentiment is in an "extremely severe condition," lowering its assessment for the second straight month as the coronavirus outbreak cast a shadow over a wide range of industries.