Technical Analysis

Reuters Tankan (Nov.) – Manufacturing sentiment index +2 (prior +5)

Eamonn Sheridan

The Reuters Tankan is monthly and is aimed at pre-empting the Bank of Japan’s own tankan report, which is quarterly.

Manufacturing sentiment index +2 (prior +5)

  • this is the worst since January 2021
  • third monthly decline in a row

non-Manufacturing sentiment index +20 (prior +15)

  • the best reading since Oct 2019

Manufacturers expect their business conditions to improve over the coming three months

  • index seen at +7 in February


  • index seen at +19 in February

Select comments from the report conveyed by Reuters:

  • “Rising costs of crude oil and steel materials on top of the Ukraine crisis and escalating U.S.-China trade frictions have all made our clients cautious about capital expenditure,” wrote a manager at a machinery maker on condition of anonymity.
  • “China’s slowdown and prolonged slump in auto production due to chip shortages and elevated costs of steel materials and energy have prevented increased sales from boosting profits,” a manager at another machinery maker wrote in the survey.

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