The Bank of Japan’s Tankan Survey. Its a survey of manufacturing and service companies designed to assess business conditions in Japan. The BOJ Tankan is conducted quarterly – today’s release is for Q3.
Tankan Large Manufacturing Index Q3, 13 – highest since March q of this year
- expected 10, prior was 12
Tankan Large Non-Manufacturing Index Q3, 13 – down for 2 consecutive quarters, lowest since September 2013
- expected 17, prior was 19
Tankan Large Manufacturing Outlook Q3, 13
- expected 13, prior was 15
Tankan Large Non-Manufacturing Outlook Q3, 14
- expected 18, prior was 19
Tankan Large All Industry Capex Q3, 8.6%
- expected 7.0%, prior was 7.4%
Tankan Small Manufacturing Index Q3, -1
- expected -2, prior was 1
Tankan Small Non-Manufacturing Index Q3, 0 – down for 2 consecutive quarters, lowest since September 2013
- expected -1, prior was 2
Tankan Small Manufacturing Outlook Q3, 0
- expected 0, prior was 3
Tankan Small Non-Manufacturing Outlook Q3, -1
- expected -2, prior was 0
BOJ official comments:
- effect of sales tax hike, bad weather, higher costs from weak yen felt more among non -manufacturers
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Japan big manufacturers see USD averaging 100.73 for FY 2014/15
–
USD/JPY is a fraction lower on the release – the gain in the Large Manufacturing Index being taken as a positive for yen, and the expectation for the rate for next year is significantly lower than current spot … but, keeping it in perspective, USD/JPY is off 10 pips ….
