Japan: Business confidence stable in Q3
Latest reading: According to the quarterly Tankan survey, business confidence among large manufacturers remained at Q2’s 13.0 in Q3. Q3’s result marked the joint-best performance since Q1 2022 and exceeded market expectations. Consequently, the index remained above the 0-threshold, pointing to robust optimism among large manufacturers.
Panelist insight: ING’s Robert Carnell said:
“The importance of the Tankan survey is partly a legacy of historically volatile and sometimes not totally credible swings in Japanese GDP figures. The Tankan was traditionally a steadier indicator of broad economic trends.”