Wednesday, May 31, 2023
HomeEconomyJapan's big makers remain pessimistic as external demand weakens - survey

Japan's big makers remain pessimistic as external demand weakens – survey

By Tetsushi Kajimoto

TOKYO (Reuters) – Japan’s top manufacturers were pessimistic for a fourth straight month in April, as expectations for Western Banks’ concerns fueled slowing global growth on Wednesday, dimming prospects for an export-led recovery.

However, it also indicated that sentiment in the services sector improved for the second month in a row, hitting a four-month high, signaling a post-COVID economic recovery led by inbound tourism, which is driving sales at restaurants and retailers. develop.

“Survey confirms economy is on track for post-coronavirus recovery, supported by services sector firms, even as manufacturers are hurt by slowdown SMBC Nikko Securities Chief Economist According to Yoshimasa Maruyama. Large non-financial companies. About 134 companies between April 5 and Responses were requested on condition of anonymity.

The findings were in line with the Bank of Japan’s Tankan, released on April 3, which showed sentiment among large manufacturers worsening for the fifth straight quarter, driven by raw materials and other materials, energy and mixed feed costs, while service sector sentiment improved slightly following the easing of COVID restrictions.

“Our clients A wait-and-see approach is being taken,” a paper/pulp company manager wrote in the survey.

On the other hand, service sector companies are more optimistic about the current business situation.

A manager at one retailer wrote in the survey: “Private consumption has come back to life in response to a pullback in demand due to the coronavirus pandemic. “

A sentiment index survey of large U.S. manufacturers showed that Reuters Tankan was negative 3, unchanged from the previous month and negative for the fourth consecutive month.

This is a month of negative sentiment since

– 2021 after the COVID outbreak.

Reuters expects tankan for next three months The manufacturer index will rebound to positive 7.

The large service industry business index rose slightly to positive 27 April was higher than the previous month’s positive The value 21 hit its highest level since December. The index is expected to fall to a positive value 19.

Bank of Japan Governor Kazuo Ueda vows to continue easing monetary policy to support fragile economy for now. Tankan survey will be a closely watched gauge of corporate strength when the central bank hosts its first policy-setting meeting in April One of the indicators of 27-27.

The Reuters Tankan Index is calculated by subtracting the percentage of pessimistic respondents from the optimistic ones. Negative numbers indicate that there are more pessimists than optimists.

($1=28.1600 yen)



Please enter your comment!
Please enter your name here


Featured NEWS