景況

• Reading: けいきょう
• Romaji: keikyo
• Kanji breakdown: 景 (kei) — scene, conditions, climate; 況 (kyo) — situation, state, circumstances
• Pronunciation: /keː.kʲoː/

Meaning

Business conditions; economic climate. The prevailing state of economic activity, particularly as experienced by businesses in a specific sector or period.

Commonly appears in the context of business surveys and diffusion indices, most notably the 景況感 (business sentiment) and 景況判断DI (diffusion index of business conditions) published in the Bank of Japan's Tankan survey. Distinct from 景気 (general economic conditions) in that 景況 focuses on the qualitative sense of how conditions feel to participants in the market.

Examples

1. 日銀の短観では、製造業の景況判断が前期比で大幅に悪化したことが示された。 The Bank of Japan's Tankan survey showed that the business conditions index for the manufacturing sector had deteriorated significantly compared to the previous quarter.
2. 景況の改善が見られる中、設備投資に前向きな企業が少しずつ増えてきた。 Amid signs of improving business conditions, the number of companies taking a positive stance on capital investment has been gradually increasing.
3. 輸出依存度の高い業種は、為替動向が景況に直結しやすい構造にある。 Industries with a high dependence on exports tend to have a structure in which exchange rate movements directly affect business conditions.

Usage Guide

Context: business surveys, macroeconomics, Tankan, financial journalism

Tone: analytical

Origin & History

Compound of 景 (scene, conditions — as in 景気 business climate) and 況 (situation, circumstances). 況 emphasises the specific state or condition at a given moment, giving 景況 its nuance of current, perceived conditions.

Cultural Context

Era: Modern

Generation: Adults

Social background: Academic/Business