Reuters Tankan: Manufacturers’ July sentiment index +19, unchanged from June

Reuters Tankan:

• Manufacturers’ July sentiment index +19, unchanged from June
• Non-manufacturers index +23 in July (vs +29 in June)
• Japan manufacturers October index seen at +21, non-manufacturers +29

The Tankan is a Reuters poll conducted monthly (the BOJ conducts its own Tankan quarterly)

Was conducted between June 30 and July 14, with 280 replies

More from Reuters:

• companies expressing their concerns about a big drop in demand after the April 1 sales tax hike and stagnant exports – particularly to China: “Our sales dropped more than expected in May and June in reaction to the sales tax hike. The Chinese market remains sluggish as well”- chemicals firm
• “The U.S. economy is firm but the world economy on the8 whole lacks momentum, particularly with the Chinese economy likely to remain sluggish for a long time” a nonferrous metal firm
• The last BOJ tankan showed on July 1 that big manufacturers’ mood soured in the three months to June but was seen improving in the current quarter, with large firms planning to raise capital spending more than initially estimated this fiscal year. That finding did not quite tally with core orders for machinery falling a record 19.5 percent in May from the previous month in a highly volatile data series that is, however, regarded as an indicator of capital spending in the coming six to nine months.