According to Reuters, a Bank of Japan official noted that the Tankan response to the Olympic impact was limited, but that several sectors, including as advertising and security services, expressed hope for a resurgence in demand.
Boost in capex demand at home and abroad helping lift business sentiment in sectors such as machinery, steel, and non-ferrous metal; Some sectors engaged in face-to-face services seeing sentiment improve on gradual rebound in demand for leisure; Surging ra
Tankan’s reaction to the Olympics’ impact was muted, but several industries, such as advertising and security services, expressed optimism about a revival in demand.
Meanwhile, the Tankan Large Manufacturing Index came in at 14 today, just ahead of the Tokyo fix and market open, which was higher than the previous 5 but lower than the 15 forecast.
The Bank of Japan’s Tankan Major Manufacturing Index depicts the overall business conditions of Japan’s large manufacturing enterprises.
It is an indication of the Japanese economy because Japan’s export-oriented economy is primarily reliant on the manufacturing industry for growth.
A JPY result above 0 is considered positive (or bullish), while a result below 0 is considered negative (or bearish)./n
