Japan Reuters December manufacturing Tankan -6 vs -9 prior
December Tankan from Reuters improves
- Non-manufacturers +14 vs +12 prior
- March outlook -1 for manufacturing, +18 for non-manufacturing
Manufacturers are less pessimistic than they were last month, when the index hit the lowest since 2013.
Here's an interesting comment from the survey regarding the 10% hike in the sales tax in October:
"Our sales fell more than 10% in October from a year earlier because of the sales tax hike. There was not a lot of front-load demand, but the pull-back was larger than we expected," a manager said.
The official Tankan from the BOJ showed manufacturing sentiment at a six-year low.
We're expecting news of a 25 trillion yen stimulus package from Japan's government today, including 13 trillion yen of new spending.