BOJ Tankan report for Q3

Tankan Large Mfg Index: 12

  • expected 13, prior was 15

Tankan Large Mfg Outlook: 10

  • expected 10, prior was 16

Tankan Large Non-Mfg Index: 25

  • expected 20, prior was 23

Tankan Large Non-Mfg Outlook: 19

  • expected 19, prior was 21

Tankan Large All Industry Capex: 10.9%

expected +8.7%, prior was +9.3%

Tankan Small Mfg Index: 0

  • expected -2, prior was 0

Tankan Small Mfg Outlook: -2

  • expected -4, prior was 0

Tankan Small Non-Mfg Index: 3

  • expected 1, prior was 4

Tankan Small Non-Mfg Outlook: 1

  • expected 0, prior was 1

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Comments on the results ...

  • September big manufacturers index worsens for first time in 3 quarters
  • September big non-manufacturers index improves for 4 straight quarters, hits highest level since November of 1991
  • Bank of Japan official says fears of emerging market slowdown, market volatility likely behind firms' cautious view on outlook

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Mixed results. At first glance it doesn't look like a smoking gun for any further imminent BOJ action

more to come