Japan Tankan: Manufacturers' mood slips - RTRS poll

According to the latest Reuters Tankan poll of the BOJ’s Tankan quarterly surveys, the confidence among the Japanese manufacturers deteriorated in November from a decade high seen previously.

Key Findings:

“The poll of 547 large-and mid-sized companies, in which 255 firms responded, was conducted Oct. 26 to Nov. 7.

The sentiment index for manufacturers fell to 27 from a decade-high of 31 in October. Sentiment deteriorated sharply among producers of industrial materials such as refined oils and chemicals, likely reflecting worsening terms of trade due to a weakening yen and rising oil prices.

Service-sector sentiment rose one point to 31, led by real estate/construction firms that benefit from the BOJ’s easy money.

Retailers were more muted, a concern for the health of private consumption that constitutes some 60 percent of the economy.”