Japan data - Reuters Tankan for July: Manufacturers Index +11 (prior +6)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."
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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 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: Japan data - Reuters Tankan for July: Manufacturers Index +11 (prior +6) (https://www.forexlive.com/news/japan-data-reuters-tankan-for-july-manufacturers-index-11-prior-6-20240716/)
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