Published On: Wed, Sep 15th, 2021
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Japan Manufacturers’ Mood Falls to 5-Month Low in September: Pollon September 15, 2021 at 11:43 am

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TOKYO—Japanese manufacturers’ confidence worsened to a five-month low in September as the fallout from the latest wave of COVID-19 put fresh pressure on the world’s third-largest economy, the Reuters Tankan poll showed. Sentiment among manufacturers fell as export-reliant firms such as carmakers suffered from a global chip shortage, according to the monthly poll, which tracks the Bank of Japan’s (BOJ) closely watched tankan quarterly survey next due on Oct. 1. Confidence among service sector firms contracted but is seen improving again over the next three months, the poll showed. The bleaker view on current conditions suggests Japan’s economic growth may slow in the third quarter after official data last week showed it expanded an annualised 1.9 percent in the three months through June, beating expectations. The poll of 503 big and mid-sized companies between Sept. 1 and 10, of which 264 responded, showed companies are struggling with sluggish demand both …

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