Japan Reuters Tankan (February): Manufacturing index -5 (prior -6) | Forexlive

The non-Manufacturing index +17, falling back for a second month (was at +25 in December 2022, a 3 year high)

The monthly Reuters Tankan tracks the Bank of Japan’s (BOJ ) tankan quarterly survey.

More:

• Many firms also complained about rises in energy and commodity prices and weakness of the yen, both factors that have driven up import bills, increasing the cost of doing business, the poll showed. “We have not been able to transfer rising costs of materials, gas and electricity to our customers. On top of that, wages are rising, all of which squeezes the business environment,” a manager of a metal processing firm wrote in the survey.
• “The environment surrounding logistics and manufacturing remains severe due to coronavirus, chip shortages, yen weakness, price rises in raw materials, the Ukraine crisis and shortages of fuel and crops.”

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This is not painting a picture of a booming economy is it? the Bank of Japan may be under pressure to cut back on accommodative policy, but economic indicators are not supporting such a move.

We’ll hear from the new incoming BOJ Governor on Friday: