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The monthly Reuters Tankan survey indicates Japanese manufacturer's sentiment falling the lowest since October 2016 in March with the sentiment index at +10 from February's +13. This was the fifth consecutive monthly fall for the sentiment index.

Japan Manufacturing

The service-sector index was +22 in March, unchanged from February. The survey showed that sentiment at both manufacturers and the service sector was seen deteriorating further in the coming three months. Japanese exporters again complained about the lack of demand in China and the United States and voiced concerns about the trade war between Japan's two major trading partners.

"Our clients are turning cautions on capital expenditure due to the U.S.-China trade war, spreading protectionism and political jitters in emerging countries," a manager of a machinery maker wrote in the survey.

The polls were conducted between March 4 and 15, 2019.

The service-sector index steady at 22in January reflects firmness in private consumption, which accounts for about 60 percent of the Japanese economy. 

The Reuters monthly Tankan poll seeks to track the Bank of Japan's (BOJ) tankan quarterly survey poll of 479 large and mid-sized companies (not all respond) . Tankan is the shorthand handle forkigyō tanki keizai kansoku chōsa, the quarterly poll of business confidence reported by the Bank of Japan on the status of the Japanese economy. 

Source: Reuters

From The TradersCommunity News Desk

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