The Bank of Japan's Tankan index for big manufacturers' sentiment fell to a near three-year low of 7 in the second quarter of 2019 from 12 in the previous period, missing market consensus of 9. Sentiment softened among enterprises producing: chemicals (8 vs 12 in Q1); iron & steel (10 vs 12); food & beverages (9 vs 11); processed metals (-11 vs 8); production machinery (17 vs 31); business oriented machinery (8 vs 13); electrical machinery (2 vs 9); shipbuilding & heavy machinery (7 vs 11); and motor vehicles (5 vs 15). In contrast, sentiment rose among companies producing textiles (11 vs 3); lumber & wood products (-6 vs 0); pulp & paper (0 vs -11); petroleum & coal products (12 vs 6); and non-ferrous metals (0 vs -9). Meanwhile, big firms plan to raise their capital spending by 7.4 percent in the financial year to March 2020, against forecasts of an 8.9 percent increase. Among non-manufacturing large firms, sentiment improved to 23 from a two-year low of 21 in Q1. Business Confidence in Japan averaged 1.52 Index Points from 1983 until 2019, reaching an all time high of 53 Index Points in the second quarter of 1989 and a record low of -58 Index Points in the first quarter of 2009.

Business Confidence in Japan is expected to be 8.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Japan to stand at 12.00 in 12 months time. In the long-term, the Japan Business Confidence is projected to trend around 2.00 Index Points in 2020, according to our econometric models.

Japan Business Confidence
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-30 11:50 PM Tankan Large Manufacturers Index Q3 19 21 22 18
2018-12-13 11:50 PM Tankan Large Manufacturers Index Q4 19 19 17 17
2019-03-31 11:50 PM Tankan Large Manufacturers Index Q1 12 19 13 18
2019-06-30 11:50 PM Tankan Large Manufacturers Index Q2 7 12 9 8
2019-09-30 11:50 PM Tankan Large Manufacturers Index Q3 7 7
2019-12-12 11:50 PM Tankan Large Manufacturers Index Q4 9


Japan Business Last Previous Highest Lowest Unit
Business Confidence 7.00 12.00 53.00 -58.00 Index Points [+]
Manufacturing PMI 49.30 49.80 56.20 29.60 [+]
Services Pmi 51.90 51.70 55.30 46.40 Index Points [+]
Industrial Production -2.10 -1.10 30.00 -37.20 percent [+]
Industrial Production Mom 2.00 0.60 6.80 -16.50 percent [+]
Manufacturing Production -2.10 -1.10 29.30 -37.20 percent [+]
Capacity Utilization 103.90 102.20 136.10 68.60 Index Points [+]
New Orders 1020.55 1071.56 1624.17 693.64 JPY Billion [+]
Machinery Orders -7.80 5.20 25.50 -17.00 percent [+]
Changes in Inventories 2191.10 1837.80 7637.40 -6554.90 JPY Billion [+]
Bankruptcies 734.00 695.00 1965.00 6.00 Companies [+]
Corporate Profits 22244.02 19476.32 26401.12 43.24 JPY Billion [+]
Coincident Index 103.20 102.10 107.00 69.30 [+]
Economy Watchers Survey 44.00 44.10 57.50 18.90 [+]
Car Production 699356.00 780165.00 961994.00 249772.00 Units [+]
Car Registrations 248056.00 212636.00 585449.00 83044.00 [+]
Leading Economic Index 95.20 95.90 108.00 72.50 Index Points [+]
Small Business Sentiment -1.00 6.00 46.00 -60.00 [+]
Internet Speed 20171.96 19574.52 20171.96 6541.92 KBps [+]
IP Addresses 43689566.00 43995715.00 44977757.00 23570249.00 IP [+]
Machine Tool Orders 98829.00 108535.00 182860.00 19037.00 JPY Million [+]
Mining Production -2.00 -3.20 16.20 -16.10 percent [+]
Cement Production 4775.00 4349.00 9368.00 4218.00 Thousands of Tonnes [+]
All Industry Activity Index 106.70 106.40 108.70 94.20 Index Points [+]
Competitiveness Index 82.47 81.59 82.47 5.36 Points [+]
Competitiveness Rank 5.00 8.00 10.00 5.00 [+]
Composite Pmi 50.80 50.70 54.10 46.30 [+]
Corruption Index 73.00 73.00 80.00 58.00 Points [+]
Corruption Rank 18.00 20.00 25.00 14.00 [+]
Ease of Doing Business 39.00 34.00 39.00 13.00 [+]
Private Investment 6.10 5.70 12.80 -25.33 percent [+]
Non Manufacturing Pmi 23.00 21.00 57.00 -41.00 [+]
Reuters Tankan Index 3.00 6.00 39.00 -78.00 Index Points [+]
Tertiary Industry Index 106.80 107.00 107.20 73.20 Index Points [+]
Steel Production 8675.70 8646.61 10775.00 1177.00 Thousand Tonnes [+]


Japan Business Confidence

In Japan, the quarterly Tankan Index of Sentiment at Large Manufacturers covers about 1,100 companies with capital over 1 billion Yen. The survey is done by mail or e-mail and asks participants to evaluate current trends and conditions in the business place and their respective industries as well as their expected business activities for the next quarter and year. The indicator is calculated by subtracting the percentage share of enterprises responding on the negative side from the share giving positive assessments. The index varies on a scale of -100 to 100 such that a value above zero indicates business optimism, a value below zero pessimism and 0 indicates neutrality. This page provides - Japan Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan Business Confidence - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
7.00 12.00 53.00 -58.00 1983 - 2019 Index Points Quarterly




Country Last Previous
Australia 2.00 Jun/19
Brazil 57.40 Jul/19
Canada 52.40 Jun/19
China 49.40 Jun/19
Euro Area 0.17 Jun/19
France 102.00 Jun/19
Germany 97.40 Jun/19
India 113.50 Jun/19
Indonesia 102.10 Mar/19
Italy 100.80 Jun/19
Japan 7.00 Jun/19
Mexico 51.20 Jun/19
Netherlands 3.30 Jun/19
Russia -1.00 Jun/19
Saudi Arabia 3.00 Jun/16
Singapore 1.00 Mar/19
South Africa 28.00 Jun/19
South Korea 75.00 Jun/19
Spain -3.70 Jun/19
Switzerland 93.60 Jun/19
Turkey 102.50 Jun/19
United Kingdom -13.00 Jun/19
United States 51.70 Jun/19


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