Large manufacturing in Japan weakened again in the third quarter of 2020, the Bank of Japan's quarterly Tankan Survey on business sentiment showed on Thursday with a diffusion index score of -27.
That was shy of forecasts for a reading of -23 as expectations were very soft because of the global Covid-19 pandemic. But it was up from a score of -34 three months ago.
The outlook came in at -17, in line with expectations and up from -27 in the previous quarter.
The large non-manufacturers index came in at -12, missing forecasts for -9 but up from -17. The outlook came in at -11, also missing forecasts for -9 but up from -14 in the three months prior.
The medium manufacturers index was -34 with an outlook or -30, while the medium non-manufacturers index was at -23 with an outlook -25.
The small manufacturing index was at -44, missing forecasts for -38 and up from -45. The outlook was at -38 versus forecasts for -25 and up from -44. The small non-manufacturing index was at -22, while the outlook was at -27.
Large all industry capex is now seen higher by 1.4 percent, exceeding expectations for 1.3 percent and down from 3.2 percent in the previous three months.
The index for business conditions came in at -27 for large enterprises, -34 for medium and -44 for small.
Sales for FY2020 were seen at -6.7 for large manufacturers and -3.0 for large non-manufacturers; -7.8 for medium manufacturers and -6.9 for medium non-manufacturers; and -9.8 for small manufacturers and -9.1 for small non-manufacturers.
Profits for FY2020 were seen at -27.6 for large manufacturers and -15.3 for large non-manufacturers; -36.4 for medium manufacturers and -41.1 for medium non-manufacturers; and -47.5 for small manufacturers and -45.4 for small non-manufacturers.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2164724/
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