- Japan manufacturers' mood turns positive as economy recovers – Reuters Tankan
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Japan manufacturers' mood turns positive as economy recovers – Reuters Tankan
“Business sentiment at big Japanese manufacturers turned positive for the first time this year and service-sector morale hit a five-month high, providing more evidence of an economy on the mend after a COVID-led recession,” per the monthly results of the Reuters Tankan survey.
Key findings
Manufacturers' mood is expected to rise further over the coming three months, while the service-sector morale slid only slightly.
The sentiment index for big manufacturers stood at +6, up from April, the according to the survey of 493 firms, of which 241 responded during May 10-19.
It was the first positive reading this year and is expected to rise further in August.
The service-sector index grew a tad from the previous month to 25, led by retailers and real estate/construction firms. The index hit its highest this year.
USD/JPY dribbles
The data fails to inspire USD/JPY bears as the Yen pair remains sidelined around 138.50, waiting for Tokyo open.
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