The Reuters Tankan report earlier today did paint a grim picture
Reuters with a recap:
- Confidence among Japanese manufacturers fell in November to lowest in about 2-1/2 years
- Reflecting fears that a China-led slowdown in overseas demand may have pushed the economy into recession
- Service sector mood also soured as sectors such as retail took a hit from weakness in private consumption
The poor poll results will be followed by government data out on Monday, which is expected to show the economy slipped back into recession through September due to a drop in capital spending in the face of weak foreign and domestic demand.
