Japan - Manufacturing gloom
December 16, 2012, Sunday
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Print Edition
Print Edition
A quarterly survey by Japan's central bank on Friday showed major Japanese manufacturers are increasingly gloomy, due largely to weakening exports.
The Bank of Japan's "tankan" index for the three months that ends in December was minus 12, much worse than expected and a steep drop from the minus 3 reading in the previous quarter.
While the survey is a measure of sentiment, not data, it ups the likelihood of further easing by the central bank at its policy meeting next week.
The ruling Democratic Party of Japan is widely expected to suffer a harsh rebuke from voters in a parliamentary election today.
The Bank of Japan's "tankan" index for the three months that ends in December was minus 12, much worse than expected and a steep drop from the minus 3 reading in the previous quarter.
While the survey is a measure of sentiment, not data, it ups the likelihood of further easing by the central bank at its policy meeting next week.
The ruling Democratic Party of Japan is widely expected to suffer a harsh rebuke from voters in a parliamentary election today.
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