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Economic data due from Japan - Tankan, industrial production foci

Today we get the results of the Bank of Japan's Tankan Survey. Its a survey of manufacturing and service companies designed to assess business conditions in Japan.

  • The BOJ Tankan is conducted quarterly.
  • Its due at 2350GMT

Bank of Japan (BOJ) Tankan report for Q4:

  • Tankan Large Mfg Index: expected is 11, prior was 12
  • Tankan Large Mfg Outlook: expected is 11, prior was 10
  • Tankan Large Non-Mfg Index: expected is 23, prior was 25
  • Tankan Large Non-Mfg Outlook: expected is 22, prior was 19
  • Tankan Large All Industry Capex: expected is +10.2%, prior was +10.9%
  • Tankan Small Mfg Index: expected is -1, prior was 0
  • Tankan Small Mfg Outlook: expected is -2, prior was -2
  • Tankan Small Non-Mfg Index: expected is 2, prior was 3
  • Tankan Small Non-Mfg Outlook: expected is , prior was 1

The results today are expected on the whole to be subdued. Japanese business confidence is tenuous, with both slow domestic demand and concerns over China weighing. A brighter spot should be in the capex plans, which while they are expected to be below those of the previous quarter are nevertheless growing at a reasonable clip. Machine orders data has surprised to the topside already this month.

0430GMT - Industrial production for October (final)

  • For the m/m, the preliminary reading came in at +1.4%, prior was +1.1%
  • For the y/y, preliminary was -1.4%, prior was -0.8%

These revised industrial production figures will be a focus also, any surprise to the topside from the preliminary release will be a yen positive while a downside miss will weigh on the yen yet again.

Also at 0430GMT

  • Capacity utilization for October, prior was 1.5%
  • Tertiary Industry index (this indicates the value of purchases of services by businesses) for October, expected is +0.5% and prior was -0.4%

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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