2020.04.0100:25:00UTC+00BoJ Tankan: Q1 Large Manufacturers Index Sinks To -8

Large manufacturing in Japan weakened again in the first quarter of 2020, the Bank of Japan's quarterly Tankan Survey on business sentiment showed on Wednesday with a diffusion index score of -8.

That actually beat forecasts for a reading of -10 as expectations were very soft because of the global Covid-19 pandemic. It was down from a score of 0 three months ago.

The outlook came in at -11, although that also beat expectations for -15 following the 0 score in the previous quarter.

The large non-manufacturers index came in at +8, beating forecasts for +2 but down from +20. The outlook came in at -1, matching forecasts and down from +18 in the three months prior.

The small manufacturing index was at -15, topping forecasts for -20 and down from -9. The outlook was at -29 versus forecasts for -25 and down from -12.

The small non-manufacturing index was at -1, beating expectations for -10 but down from +7. The outlook was at -19. missing forecasts for -15 and down from +1.

Large all industry capex is now seen higher by 1.8 percent, exceeding expectations for 1.7 percent and down from 6.8 percent in the previous three months.

Profits for large manufacturers are seen at -2.8, while large non-manufacturers are at -1.2. Employment for large manufacturing is seen at -11, while large non-manufacturing is at -30.