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<p>The Reuters Tankan is monthly and is aimed at pre-empting the Bank of Japan's own tankan report, which is quarterly.</p><p>Manufacturing sentiment index +2 (prior +5)</p><ul><li>this is the worst since January 2021</li><li>third monthly decline in a row</li></ul><p>non-Manufacturing sentiment index +20 (prior +15)</p><ul><li>the best reading since Oct 2019 </li></ul><p>---</p><p>Manufacturers expect their business conditions to improve over the coming three months </p><ul><li>index seen at +7 in February </li></ul><p>Service-sector </p><ul><li>index seen at +19 in February </li></ul><p>Select comments from the report conveyed by Reuters:</p><ul><li> "Rising costs of <a href="https://www.forexlive.com/terms/c/crude-oil/" target="_blank" id="e1f1b115-23d2-48c8-98c8-24024dada457_1" class="terms__main-term">crude oil</a> and steel materials on top of the e crisis and escalating U.S.-China trade frictions have all made our clients cautious about capital expenditure," wrote a manager at a machinery maker on condition of anonymity.</li><li> "China's slowdown and prolonged slump in auto production due to chip shortages and elevated costs of steel materials and energy have prevented increased sales from boosting profits," a manager at another machinery maker wrote in the survey. </li></ul>

                This article was written by Eamonn Sheridan at forexlive.com.