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Japan's Ministry of Finance and the Cabinet Office released its quarterly survey on late Wednesday evening. The business survey index (BSI) of manufacturers' sentiment dropped to 3.8 in fourth quarter from 11.0 in third quarter, missing expectations for a rise to 12.1.
The BSI for non-manufacturing slid to 5 in the fourth quarter from 8.9 in the third quarter.
The BSI for all industries was down to 4.6 in the fourth quarter from 9.6 in the third quarter.
The BSI for manufacturers in the first quarter of 2016 is expected to rise to 4.0, while the BSI for non-manufacturing is expected to increase to 6.4.
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