BOJ Tankan: Mood improves slightly at Japan's major manufacturers
The Bank of Japan's quarterly "Tankan" survey came out on Tuesday. It puts the index at plus 13 for the manufacturers. That reading is 1 point better than in the previous poll.
A positive number indicates that more companies are optimistic about recent business conditions than those feeling pessimistic.
Sentiment in the iron and steel sector shows a 15-point improvement yet remains in negative territory.
Pulp and paper improved 11 points to plus 29.
But the Trump administration's tariffs dampened the mood for motor vehicles, processed metals and other export-related industries.
Another part of the Tankan covers large non-manufacturers. Their sentiment continues to hover around the highest levels in about 34 years. Record numbers of foreign tourists are a big factor. Still, the index is down 1 point in the latest survey.
Looking three months ahead, confidence at large manufacturers is expected to fall to plus 12. Non-manufacturers are predicted to worsen 7 points to 27.
The BOJ polled about 9,000 companies from late May through the end of June.
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