Pessimism lingers among big Japanese manufacturers – Reuters Tankan

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TOKYO — Business morale at big

Japanese manufacturers remained in a negative territory for the

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second straight month in February, while service-sector firms

became less optimistic for two months in a row, the Reuters

Tankan survey found.

The results reflected tepid economic recovery from the

COVID-19 pandemic.

The monthly poll, which closely tracks the Bank of Japan’s

quarterly tankan survey, canvassed 493 big non-financial

Japanese firms, of which 244 replied. It was conducted from Feb.

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8 to 17.

Following is a table of index readings, which are derived by

subtracting the percentage of respondents who say conditions are

poor from those who say conditions are good. A negative reading

means pessimists outnumber optimists.

2023 2022

MAY (forecast) FEB JAN DEC NOV OCT SEP

===============================================================

MANUFACTURERS ( +4) -5 -6 +8 +2 +5 +10

—————————————————————

(Materials) ( +2) -7 -14 -2 +3 0 +9

– Textiles/paper (-10) -20 -30 -20 0 -10 0

– Chemicals ( +6) 0 -6 +11 +11 +10 +29

– Oil refinery/ceramics (+43) 0 -12 +13 0 0 +14

– Steel/nonferrous metals (-18) -9 -17 -20 -11 -9 -22

(Manufactured products) ( +5) -3 0 +13 +2 +8 +10

– Food ( 0) 0 +10 0 +25 +12 +8

– Metal products/machinery (+15) +14 +11 +37 +26 +18 +28

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– Electric machinery (-19) -28 -10 -5 -24 +5 -4

– Autos/transport equipment (+15) -15 -21 +9 -29 -17 -15

– Precision machinery/others(+15) +7 +7 +7 +14 +15 +23

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NON-MANUFACTURERS (+19) +17 +20 +25 +20 +15 +11

—————————————————————-

– Real estate/construction ( 0) -8 -9 +7 +9 0 -4

– Retail/wholesale (+16) +16 +31 +30 +32 +17 +16

– Wholesalers (+22) +27 +48 +45 +50 +42 +35

– Retailers (+11) +5 +13 +12 +11 -12 -6

– Information/communications(+43) +50 +34 +46 +39 +43 +50

– Transport/utility (+22) +22 +24 +27 +26 +32 +28

– Other services (+24) +20 +23 +19 0 0 -16

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MANUFACTURERS NON-MANUFACTURERS

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RTRS BOJ RTRS BOJ

—————————————————————

MAY 2023 (forecast) ( +4) – (+19) –

APR – – – –

MAR (forecast) – ( +6) – (+11)

FEB -5 – +17 –

JAN -6 – +20 –

DEC 2022 +8 +7 +25 +19

NOV +2 – +20 –

OCT +5 – +15 –

SEP +10 +8 +11 +14

AUG +13 – +19 –

JUL +9 – +14 –

JUN +9 +9 +13 +13

MAY +5 – +13 –

APR +11 – +8 –

MAR +8 +14 -1 +9

FEB +6 – +3 –

JAN +17 – +8 –

DEC 2021 +22 +17 +6 +10

NOV +13 – +1 –

OCT +16 – -1 –

SEP +18 +18 -2 +2

AUG +33 – +5 –

JUL +25 – -3 –

JUN +22 +14 0 +1

MAY +21 – +2 –

APR +13 – -3 –

MAR +6 +5 -5 -1

FEB +3 – -7 –

JAN -1 – -11 –

DEC 2020 -9 -10 -4 -5

NOV -13 – -13 –

OCT -26 – -16 –

SEP -29 -27 -18 -12

AUG -33 – -23 –

JUL -44 – -26 –

JUN -46 -34 -32 -17

MAY -44 – -36 –

APR -30 – -23 –

MAR -20 -8 -10 +8

FEB -5 – +15 –

JAN -6 – +14 –

DEC 2019 -6 0 +14 +20

NOV -9 – +12 –

OCT -5 – +25 –

SEP -7 +5 +19 +21

AUG -4 – +13 –

JUL +3 – +25 –

JUN +6 +7 +22 +23

MAY +12 – +27 –

APR +8 – +24 –

MAR +10 +12 +22 +21

FEB +13 – +22 –

JAN +18 – +31 –

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(Reporting by Tetsushi Kajimoto)

Article content

TOKYO — Business morale at big

Japanese manufacturers remained in a negative territory for the

Article content

second straight month in February, while service-sector firms

became less optimistic for two months in a row, the Reuters

Tankan survey found.

The results reflected tepid economic recovery from the

COVID-19 pandemic.

The monthly poll, which closely tracks the Bank of Japan’s

quarterly tankan survey, canvassed 493 big non-financial

Japanese firms, of which 244 replied. It was conducted from Feb.

Article content

8 to 17.

Following is a table of index readings, which are derived by

subtracting the percentage of respondents who say conditions are

poor from those who say conditions are good. A negative reading

means pessimists outnumber optimists.

2023 2022

MAY (forecast) FEB JAN DEC NOV OCT SEP

===============================================================

MANUFACTURERS ( +4) -5 -6 +8 +2 +5 +10

—————————————————————

(Materials) ( +2) -7 -14 -2 +3 0 +9

– Textiles/paper (-10) -20 -30 -20 0 -10 0

– Chemicals ( +6) 0 -6 +11 +11 +10 +29

– Oil refinery/ceramics (+43) 0 -12 +13 0 0 +14

– Steel/nonferrous metals (-18) -9 -17 -20 -11 -9 -22

(Manufactured products) ( +5) -3 0 +13 +2 +8 +10

– Food ( 0) 0 +10 0 +25 +12 +8

– Metal products/machinery (+15) +14 +11 +37 +26 +18 +28

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– Electric machinery (-19) -28 -10 -5 -24 +5 -4

– Autos/transport equipment (+15) -15 -21 +9 -29 -17 -15

– Precision machinery/others(+15) +7 +7 +7 +14 +15 +23

================================================================

NON-MANUFACTURERS (+19) +17 +20 +25 +20 +15 +11

—————————————————————-

– Real estate/construction ( 0) -8 -9 +7 +9 0 -4

– Retail/wholesale (+16) +16 +31 +30 +32 +17 +16

– Wholesalers (+22) +27 +48 +45 +50 +42 +35

– Retailers (+11) +5 +13 +12 +11 -12 -6

– Information/communications(+43) +50 +34 +46 +39 +43 +50

– Transport/utility (+22) +22 +24 +27 +26 +32 +28

– Other services (+24) +20 +23 +19 0 0 -16

===============================================================

MANUFACTURERS NON-MANUFACTURERS

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RTRS BOJ RTRS BOJ

—————————————————————

MAY 2023 (forecast) ( +4) – (+19) –

APR – – – –

MAR (forecast) – ( +6) – (+11)

FEB -5 – +17 –

JAN -6 – +20 –

DEC 2022 +8 +7 +25 +19

NOV +2 – +20 –

OCT +5 – +15 –

SEP +10 +8 +11 +14

AUG +13 – +19 –

JUL +9 – +14 –

JUN +9 +9 +13 +13

MAY +5 – +13 –

APR +11 – +8 –

MAR +8 +14 -1 +9

FEB +6 – +3 –

JAN +17 – +8 –

DEC 2021 +22 +17 +6 +10

NOV +13 – +1 –

OCT +16 – -1 –

SEP +18 +18 -2 +2

AUG +33 – +5 –

JUL +25 – -3 –

JUN +22 +14 0 +1

MAY +21 – +2 –

APR +13 – -3 –

MAR +6 +5 -5 -1

FEB +3 – -7 –

JAN -1 – -11 –

DEC 2020 -9 -10 -4 -5

NOV -13 – -13 –

OCT -26 – -16 –

SEP -29 -27 -18 -12

AUG -33 – -23 –

JUL -44 – -26 –

JUN -46 -34 -32 -17

MAY -44 – -36 –

APR -30 – -23 –

MAR -20 -8 -10 +8

FEB -5 – +15 –

JAN -6 – +14 –

DEC 2019 -6 0 +14 +20

NOV -9 – +12 –

OCT -5 – +25 –

SEP -7 +5 +19 +21

AUG -4 – +13 –

JUL +3 – +25 –

JUN +6 +7 +22 +23

MAY +12 – +27 –

APR +8 – +24 –

MAR +10 +12 +22 +21

FEB +13 – +22 –

JAN +18 – +31 –

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(Reporting by Tetsushi Kajimoto)