The BOJ Tankan is once a quarter, Reuters similar survey is once a quarter

Japan manufacturers index +8 in April vs +10 in March

  • now at its lowest reading since September of 2016

Non-manufacturers index +24 in April vs +22 in March

  • this is the first rise in 4 months

Manufacturers July index seen at +13, non-manufacturers +25

Adds Reuters:

  • Subdued business confidence - on top of weakness in factory output and exports - has raised the spectre of a downturn
  • many managers voiced concerns about China's economic slowdown and its trade war with the United States. "A sense of caution is rising due to the global slowdown amid the U.S.-China trade war and Brexit, which are causing companies to hold off on business investment, curbing orders for capex"

Yen unmoved.

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Reuters poll of 478 large- and mid-sized companies

  • 241 firms responded