BOJ, Tankan report: big manufacturers sentiment index above expectations
Japan's large manufacturers sentiment index in the second quarter remained unchanged at 6, but was higher than the previous value of 4
The index of the Tankan large manufacturers, published by the Bank of Japan, reflects the general business conditions for large Japanese manufacturing companies. This index is an economic indicator of Japan, which is heavily dependent on the industrial activity, causing the growth of export-oriented economy. The index value above 0 is a positive factor for the yen, and the indicator is below 0 - negative.
Forecast of the Bank of Japan Tankan large enterprises;
- Capital expenditures in the current fiscal year increased by 6.2%.
- Pretax profit in the current fiscal year will fall by -11.6%
- Dollar exchange rate in the current fiscal year will be 111.41 yen.
- The mood among the banks at the lowest level in three and a half years.
The report was completed prior to the referendum on the UK's membership of the EU