Japan Reuters Tankan for March shows solid improvement for Manufacturing and Services

The monthly Reuters Tankan survey, a guide to the Bank of Japan’s quarterly tankan survey, due on April 1.

Confidence at big Japanese
companies rebounded to a three-month high in March

• manufacturers’ sentiment index stood at plus 10 in March, versus minus 1 in the previous month
• gains in the auto industry, oil refining and chemicals
• June index is seen at +14

Service-sector mood rose to a seven-month high

• sentiment rose to plus 32, from 26 in February
• June index is seen at +25

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Reuters Tankan is a monthly survey that seeks to track the Bank of Japan’s tankan quarterly survey

• respondents spoke on the condition of anonymity
• Reuters Tankan indexes are calculated by subtracting the percentage of pessimistic respondents from optimistic ones. A positive reading means optimists outnumber pessimists.

Poll canvassed 240 manufacturers and 258
non-manufacturers

• 237 firms responded
• conducted March 6-15

This article was written by Eamonn Sheridan at www.forexlive.com.