BOJ Tankan Seen Showing Another Fall in Biz Sentiment
Tokyo, June 24 (Jiji Press)--A Bank of Japan "tankan" survey report due out July 1 is likely to show a second straight quarterly fall in manufacturing sentiment, think tanks say.
The headline diffusion index for business sentiment among large manufacturers is predicted on average at plus 9 for the upcoming June report, down 3 points from the March report, according to a recent Jiji Press poll of 15 private research institutes. The DI lost 7 points in the previous tankan.
The weak estimate reflected flagging production and exports against the backdrop of the prolonged U.S.-China trade friction.
Fourteen institutes project a fall in the DI in the June tankan, while the other institute expects no change.
Sharp deteriorations are forecast for the machinery-related, steel and nonferrous metals industries, in light of overseas economic slowdowns and sluggish demand for semiconductor chips.
[Copyright The Jiji Press, Ltd.]