Reuters Tankan survey for June 2024
Manufacturers sentiment index +11 in July vs +6 in June
- first gain in four months
- manufacturers expect the index to fall back to plus 9 over the next three months
Service-sector +27, down from June’s +31
Reuters report some comments from the survey:
- “Domestic price hikes have weakened consumption and a
slowing Chinese economy has caused China-bound materials from
the Middle East to make inroads into the Japanese market at low
prices” -
“The double punches of weak domestic demand and cheap import
materials from overseas are curbing our sales volume.” - “Input prices have
risen and remain elevated due to the weak yen as we struggle to
transfer costs to our customers.”
***
Reuters Tankan is a monthly survey that seeks to track the Bank of Japan’s tankan quarterly survey
- respondents spoke on the condition of anonymity
- Reuters Tankan indexes are calculated by subtracting the percentage of pessimistic respondents from optimistic ones. A positive reading means optimists outnumber pessimists.
This article was written by Eamonn Sheridan at www.forexlive.com.
Source link
