Morale at Japan big manufacturers logs first negative reading in 2 years -Reuters Tankan

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Morale at Japan big manufacturers logs first negative reading in 2 years -Reuters Tankan
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TOKYO : Business confidence at big Japanese firms slid in January with manufacturers showing a negative reading for the first time in two years, the Reuters Tankan survey found, reflecting a slow recovery from the pandemic amid a global economic downturn and rising living costs.The drop in morale could un

TOKYO : Business confidence at big Japanese firms slid in January with manufacturers showing a negative reading for the first time in two years, the Reuters Tankan survey found, reflecting a slow recovery from the pandemic amid a global economic downturn and rising living costs.

The negative reading - the first since January 2021 - indicates that the number of firms that said business conditions were poor was greater than those that said they were good. It was the most pessimistic reading since December 2020. Morale was much stronger in the service sector, with that index at +20 in January, a drop from +25 in the prior month which was its highest level in more than three years. Among non-manufacturers, only the real estate and construction sectors had negative readings.

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