The monthly Reuters Tankan survey, a guide to the Bank of Japan’s quarterly tankan survey.
For June 2024:
- Manufacturers index is +6, from +9 in May
- positive for the fourth consecutive month
- Japanese manufacturers say their drop in confidence is due to higher materials costs.
- Non – manufacturers +31, from +26 in May
- three month high
Outlooks:
- Manufacturers seen at +9 in September, and the non-manufacturers at +31
Some remarks reported by Reuters:
- “Passing on materials costs to customers and the increase in
labour costs are sapping appetite for capital expenditure and
other spending” a machinery maker manager
Concerns about the
knock-on effects of a scandal in the auto industry where Toyota, Mazda others have acknowledged
irregularities in vehicle certification tests:
-
“The business environment surrounding industrial machinery
is clearly changing for the worse,” wrote a manager in the auto
sector. “It’s unclear how the certification issue will affect
our business.”
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The next Bank of Japan Tankan is due on July 1 at 8.50 am Tokyo time (2350 GMT and 1850 US Eastern time on the 30th June)
***
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.
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