Japan manufacturers index +13 in February vs +18 in January, to its lowest reading since October 2016

  • non-manufacturers index +22 in Feb vs +31 in Jan, to its lowest reading since Dec. of 2016
  • manufacturers May index seen at +12, non-manufacturers +20

Reuters cite:

  • companies took a hit from weakening demand both at home and abroad in the face of slowing global growth and trade friction


  • manufacturers' mood sliding for a fourth straight month
  • service-sector morale falling for the first time in four months
  • both manufacturers' and non-manufacturers' sentiment is expected to slip further over the coming three months
  • "Capital expenditure is being put off due to the U.S.-China trade war and slowdown in Chinese economy," a manager of a machinery maker wrote in the survey
  • sentiment index for manufacturers dragged down by electrical machinery makers and industrial materials producers including oil refinery, steel and chemicals
  • service-sector weighed by retailers, a worrying sign for consumption, which makes up about 60 percent of the economy


Reuters Tankan poll is a monthly poll

  • tracks the Bank of Japan's quarterly tankan survey
  • 266 firms responded in the poll of 480 large and midsize companies
  • conducted Feb. 1-14

Indexes are calculated by subtracting the percentage of pessimistic respondents from optimistic ones. A negative figure means pessimists outnumber optimists.