Reuters tankan is monthly while the BOJ's is quarterly.
- July Japan non-manufacturers index -26 vs -32 in June
- manufacturers October index seen at -32, non-manufacturers -16
The reading on the manufacturers' index keeps it hovering near the 11-year low seen in June
Via Reuters report:
- "Demand is still weak, both overseas and domestically," a manager at a chemicals maker wrote in the survey.
- All industry categories across manufacturing were pessimistic
- some respondents, such as a metals maker, saw a bottoming out in the auto sector, suggesting stronger demand ahead. A manager at a retailer said: "Though there are recovery signs, sales of new and used cars are still at a level of 70% to 80% from a year earlier."
Coming up from Japan later:
---
Reuters Tankan index readings are derived by subtracting the percentage of respondents who say conditions are poor from those who say they are good. A negative reading means that pessimists outnumber optimists.
