A Reuters monthly poll, which tracks the Bank of Japan’s closely watched quarterly tankan, showed a bleak picture of the Japanese manufacturing sector activity, highlighting that the manufacturers’ confidence worsened for the first time in four months in September and was expected to fall further.
The service-sector mood had its best reading in more than two years
The Reuters Tankan’s sentiment indexes for manufacturers and service sector firms held largely unchanged, pointing to a steady reading in the central bank’s upcoming tankan due on October 2.
The Reuters Tankan sentiment index was seen sliding over the next three months, reflecting uncertainty over the U.S. and Chinese economies
The sentiment index for manufacturers fell two points to 25 in September in the poll of 548 large- and mid-sized companies, conducted Aug. 30-Sept. 12, in which 268 firms responded.
The Reuters Tankan service-sector index rose five points to 34, marking the best reading since June 2015, led by retailers and information and communications firms.
The manufacturers’ and service-sector indexes were expected to fall to 21 and 28 respectively in December.
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