Bank of Japan Tankan survey for Q4
Tankan Large Mfg Index: 10 - Highest since December last year. Up for the first time in a year and a half
- expected 10, prior was 6
Tankan Large Mfg Outlook: 8
- expected 9, prior was 6
Tankan Large Non-Mfg Index: 18
- expected 19, prior was 18
Tankan Large Non-Mfg Outlook: 16
- expected 18, prior was 16
Tankan Large All Industry Capex: +5.5%
- expected +6.1%, prior was +6.3%
- So, big firms are looking to increase capital expenditure for this fiscal year (ends in March 2017) by 5.5% ... a fall from estimates of +6.3% in the prior survey. Not a positive.
Tankan Small Mfg Index: 1
- expected -1, prior was -3
Tankan Small Mfg Outlook: -4
- expected -2, prior was -5
Tankan Small Non-Mfg Index: 2
- expected 2, prior was 1
Tankan Small Non-Mfg Outlook: -2
- expected 1, prior was -2
More:
- Large manufacturers see USD/JPY rate at 104.90 average for FY2016
(Given where we are currently then you'd have to think they'll be sellers of USD/JPY up here)
--
- The Bank of Japan Tankan survey is of more than 10,700 firms
- Survey conducted from November 14 to December 13
