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ORIGINAL POST: The TANKAN survey is a quarterly survey of manufacturers in Japan.It’s the next datapoint in this crucial 24 hours for the global economy.
The BOJ Tankan survey for Q1 will be released today and is expected to show an improvement in business conditions for large manufacturers from -4pt in the previous survey to -1pt currently. We believe that recent JPY depreciation, rising stock prices, and moderation in the Eurozone debt problem will lead to such improvement in Japanese business confidence. Nonetheless, the recovery in business confidence may not be large enough to remove expectations for further BOJ easing.
We’ll have the number here live when it comes out at 7:50 PM ET.
UPDATE: The numbers are out, and the outlook is still mediocre.
The outlook among big manufacturers stayed flat at -4 vs. the expected improvement to -1.
Things actually worsened for small and medium-sized enterprises.
Here’s a look at the manufacturing conditions chart.
Click to enlarge.
You can download the full report here (.pdf).