Reuters Tankan survey for June 2024
Manufacturers sentiment index +11 in July vs +6 in June
- first gain in four months
- manufacturers expect the index to fall back to plus 9 over the next three months
Service-sector +27, down from June's +31
Reuters report some comments from the survey:
- "Domestic price hikes have weakened consumption and a slowing Chinese economy has caused China-bound materials from the Middle East to make inroads into the Japanese market at low prices"
- "The double punches of weak domestic demand and cheap import materials from overseas are curbing our sales volume."
- "Input prices have risen and remain elevated due to the weak yen as we struggle to transfer costs to our customers."
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Reuters Tankan is a monthly survey that seeks to track the Bank of Japan's tankan quarterly survey
- respondents spoke on the condition of anonymity
- Reuters Tankan indexes are calculated by subtracting the percentage of pessimistic respondents from optimistic ones. A positive reading means optimists outnumber pessimists.
