Reuters tankan (September), both manufacturing and non-manufacturing indexes drop
Manufacturers' sentiment index +18 ( a 5-month low) vs August +33 (a 3.5 year high)
- Service sector index -2 in Sept vs +5 in Aug
Info via Reuters report (in summary):
- export-reliant firms such as carmakers suffered from a global chip shortage
- the bleaker view on current conditions suggests Japan's economic growth may slow in the third quarter
- companies are struggling with sluggish demand both at home and abroad as a slowdown in China and emerging markets clouds the outlook
- firms reported the deepening impact of a global chip shortage, as activities and broader demand continued to be hobbled by the health crisis, with some saying they were suffering from higher raw material prices
- manufacturers' business confidence was seen largely stable at 19 in December
- service sector firms was expected to rise to 7
The Reuters tankan report is monthly and is aimed at pre-empting the Bank of Japan's own tankan report, which is quarterly.
- The next BOJ quarterly survey is due on October 1
Reuters survey was of 503 big and mid-sized companies
- conducted between September 1 and 10
- readings are calculated by subtracting the percentage of respondents who say conditions are poor from those who say they are good. A positive reading means optimists outnumber pessimists.