Economic Indicators

Japanese Factory Sentiment Unexpectedly Worsens in Q3- Tankan

2022.10.02 21:23



© Reuters.

By Ambar Warrick 

Investing.com– Sentiment among major Japanese manufacturers unexpectedly worsened in the third quarter, a survey by the Bank of Japan showed on Monday, as rising material costs and a worsening economic outlook weighed.

The BoJ’s , which is based on a quarterly poll conducted by the bank, fell to 8 in the quarter to Sept. 30 from 9 in the prior quarter. Analysts expected a reading of 11. 

The reading also puts manufacturing sentiment at its weakest level since March 2021, when the country was grappling with fresh COVID-19 outbreaks. An also ducked expectations. 

Sentiment among commodity-importing industries such as petroleum, lumber and iron worsened the most, while pessimism in other sectors such as automobile makers and shipbuilders persisted.

The reading comes as most major manufacturers in the country grapple with mounting costs related to commodity imports. Volatility in global markets and a severely weakened  are the two biggest drivers of this trend.

This also saw rise by 21.5% in the quarter, more than expectations of 18.8% and last quarter’s reading of 18.6%. 

But sentiment among major non-manufacturing industries improved slightly more than expected, propped up by robust consumer spending and loose monetary conditions in the country.

The Tankan rose to 14 in the third quarter from 13 in the prior quarter, also beating expectations for a reading of 13. Transport, rental and communication services saw the biggest improvements in sentiment.

Data last week showed that Japanese grew more than expected in August, as did . 

But an improvement in the non-manufacturing sector was too little to offset worsening sentiment in industrials, with Japan’s overall business sentiment turning negative in the quarter. 

Japan’s economic outlook has worsened substantially this year, as the world’s third-largest economy continues to grapple with surging inflation and a weakening yen. 

But the BoJ has maintained its accommodative monetary policy stance, stating that the economy still needs support in the aftermath of the COVID-19 pandemic and worsening global growth. 

 



Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 96,340.81 2.49%
ethereum
Ethereum (ETH) $ 3,333.59 5.53%
tether
Tether (USDT) $ 0.999995 0.02%
xrp
XRP (XRP) $ 2.21 6.54%
bnb
BNB (BNB) $ 656.60 5.24%
solana
Solana (SOL) $ 180.89 9.44%
dogecoin
Dogecoin (DOGE) $ 0.312051 9.74%
usd-coin
USDC (USDC) $ 1.00 0.06%
staked-ether
Lido Staked Ether (STETH) $ 3,327.51 5.53%
cardano
Cardano (ADA) $ 0.890789 9.07%
tron
TRON (TRX) $ 0.244444 3.37%
avalanche-2
Avalanche (AVAX) $ 37.20 10.47%
chainlink
Chainlink (LINK) $ 22.01 9.17%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,933.20 5.76%
the-open-network
Toncoin (TON) $ 5.30 5.79%
sui
Sui (SUI) $ 4.40 9.01%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 95,951.71 2.32%
shiba-inu
Shiba Inu (SHIB) $ 0.000021 9.45%
hyperliquid
Hyperliquid (HYPE) $ 32.96 1.14%
stellar
Stellar (XLM) $ 0.351088 9.46%
polkadot
Polkadot (DOT) $ 6.92 9.59%
hedera-hashgraph
Hedera (HBAR) $ 0.250377 10.48%
weth
WETH (WETH) $ 3,331.24 5.53%
bitcoin-cash
Bitcoin Cash (BCH) $ 447.57 4.53%
leo-token
LEO Token (LEO) $ 9.30 0.33%
uniswap
Uniswap (UNI) $ 13.62 7.30%
litecoin
Litecoin (LTC) $ 98.98 6.32%
pepe
Pepe (PEPE) $ 0.000017 8.40%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,512.10 5.65%
near
NEAR Protocol (NEAR) $ 4.94 11.57%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.03%
bitget-token
Bitget Token (BGB) $ 4.13 11.99%
usds
USDS (USDS) $ 0.997873 0.20%
aptos
Aptos (APT) $ 9.25 15.06%
internet-computer
Internet Computer (ICP) $ 9.93 10.28%
aave
Aave (AAVE) $ 296.58 12.22%
crypto-com-chain
Cronos (CRO) $ 0.155311 7.41%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.470704 9.05%
ethereum-classic
Ethereum Classic (ETC) $ 25.82 8.63%
mantle
Mantle (MNT) $ 1.14 14.01%
vechain
VeChain (VET) $ 0.0449 10.96%
render-token
Render (RENDER) $ 7.02 10.98%
whitebit
WhiteBIT Coin (WBT) $ 24.30 1.04%
monero
Monero (XMR) $ 188.76 2.03%
dai
Dai (DAI) $ 1.00 0.06%
mantra-dao
MANTRA (OM) $ 3.56 8.10%
bittensor
Bittensor (TAO) $ 450.46 9.81%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.25 11.35%
arbitrum
Arbitrum (ARB) $ 0.740594 10.91%
filecoin
Filecoin (FIL) $ 4.87 9.81%