A BOJ official cites pickup in domestic and offshore sales for business sentiment improvement

A Bank of Japan official remarking on the just released Tankan survey report for the September quarter.

Main pints here:

• Bank of Japan Tankan report for Q3, large manufacturers sentiment -27 (-24 expected)

Note that at -27 the result is still awful, but the official is correct in saying it was an improvement (from -34 in Q2)

Comments:

• Japan automakers' sentiment improved due to pick up in domestic, overseas sales as well as exports, output
• many Japan manufacturers said pickup in sales, profits remained slow
• service-sector firms saw confidence improve as shops reopened, business hour curbs removed