The Bank of Japan's index for big manufacturers' sentiment improved to 5 in the first quarter of 2021, from -10.0 in the previous three-month period and beating market consensus of 0.0. It was the highest reading since the third quarter of 2019, adding to signs of a gradual economic recovery from last year's slump triggered by the COVID-19 pandemic. Sentiment improved among firms producing lumber & wood products; pulp & paper; chemicals; petroleum & coal products; ceramics, stone & clay; iron & steel; nonferrous metals; processed metals; general-purpose machinery; production machinery; business oriented machinery; electrical machinery; and motor vehicles. source: Bank of Japan

Business Confidence in Japan averaged 1 points from 1983 until 2021, reaching an all time high of 53 points in the second quarter of 1989 and a record low of -58 points in the first quarter of 2009. This page provides - Japan Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.

Business Confidence in Japan is expected to be -2.00 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 5.00 in 12 months time. In the long-term, the Japan Business Confidence is projected to trend around 10.00 points in 2022, according to our econometric models.

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Japan Business Confidence

Actual Previous Highest Lowest Dates Unit Frequency
5.00 -10.00 53.00 -58.00 1983 - 2021 points Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-06-30 11:50 PM Q2 -34 -8 -31 -34
2020-09-30 11:50 PM Q3 -27 -34 -23 -26
2020-12-13 11:50 PM Q4 -10 -27 -15 -17
2021-03-31 11:50 PM Q1 5 -10 0 -2
2021-06-30 11:50 PM Q2 5 4
2021-09-30 11:50 PM Q3
2021-12-13 11:50 PM Q4


News Stream
Japan Business Morale Turns Positive in Q1
The Bank of Japan's index for big manufacturers' sentiment improved to 5 in the first quarter of 2021, from -10.0 in the previous three-month period and beating market consensus of 0.0. It was the highest reading since the third quarter of 2019, adding to signs of a gradual economic recovery from last year's slump triggered by the COVID-19 pandemic. Sentiment improved among firms producing lumber & wood products; pulp & paper; chemicals; petroleum & coal products; ceramics, stone & clay; iron & steel; nonferrous metals; processed metals; general-purpose machinery; production machinery; business oriented machinery; electrical machinery; and motor vehicles.
2021-04-01
Japan Q4 Big Manufacturers' Sentiment Beats Forecasts
The Bank of Japan's Tankan index for big manufacturers' sentiment rose to -10 in the fourth quarter of 2020 from -27 in the previous three-month period, beating market consensus of -15, as the economy emerges from the COVID-19 disruption. Sentiment improved among firms producing textiles (-19 vs -33 in Q3), lumber & wood products (-23 vs -59), chemicals (-5 vs -19), iron & steel (-25 vs -55), non-ferrous metals (-9 vs -36), general-purpose machinery (0 vs -16), production machinery (-21 vs -43), electrical machinery (-1 vs -15), motor vehicles (-13 vs -61). In contrast, sentiment weakened among firms producing shipbuilding & heavy machinery (-41 vs -34). Among non-manufacturing large firms, sentiment recovered to -5 from -12, and compared with forecasts of -6. However, big firms plan to cut their capital expenditure by 1.2 percent, amid plunging profits and uncertainties over the outlook.
2020-12-14
Japan Business Confidence Recovers from 11-Year Low
The Bank of Japan's Tankan index for big manufacturers' sentiment rose to -27 in the third quarter of 2020 from an eleven-year low of -34 in the previous period, but still came below consensus of -23, as the coronavirus pandemic continued to hit activity and global demand. Sentiment remained sharply weak among firms producing motor vehicles (-61 vs -72 in Q2), lumber & wood products (-59 vs -53), iron & steel (-55 vs -58), production machinery (-43 vs -37), nonferrous metals (-36 vs -39), shipbuilding (-34 vs -46), textiles (-33 vs -38), pulp & paper (-26 vs -33), chemicals (unchanged at -19), business-oriented machinery (-18 vs -29), general-purpose machinery (-16 vs -26), and electrical machinery (-15 vs -28). Among non-manufacturing large firms, sentiment recovered to -12 from a 10-1/2-year low of -17, and compared with expectations of -9.
2020-10-01
Japan Q2 Business Morale Weakest in 11 Years
The Bank of Japan's Tankan index for big manufacturers' sentiment plunged to an eleven-year low of -34 in the second quarter of 2020, worse than market consensus of -31, as the coronavirus pandemic hit activity and global demand. Sentiment deteriorated the most among firms producing motor vehicles (-72 vs -17 in Q1), lumber & wood products (-53 vs 0), iron & steel (-58 vs -15), pulp & paper (-33 vs 4), general-purpose machinery (-26 vs 0), production machinery (-37 vs 0), electrical machinery (-28 vs -3), business-oriented machinery (-29 vs -6) and shipbuilding (-46 vs -29). Big firms plan to raise their capital spending by 3.2 percent, up from 1.8 percent in the previous quarter and above a 2.1 percent expected by consensus. Among non-manufacturing large firms, sentiment tumbled to a 10-1/2-year low of -17, and compared with expectations of -18.
2020-07-01

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.