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 Maypositive for the fourth consecutive monthJapanese manufacturers say their drop in confidence is due to higher materials costs.Non – manufacturers +31, from +26 in Maythree 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)
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Reuters Tankan is a monthly survey that seeks to track the Bank of Japan’s tankan quarterly survey
respondents spoke on the condition of anonymityReuters 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.
