Investing.com – Japan’s Tankan manufacturing index fell less-than-expected in the fourth quarter, declining for the first time since March 2009, official data showed on Wednesday.
In a report, the Bank of Japan said its Tankan manufacturing index fell to 5.0 points in the fourth quarter, after rising to 8.0 points in the preceding quarter.
Analysts had expected the index to fall to 3.0 points in the fourth quarter.
On the index, a level above 0.0 indicates improving conditions, below indicates worsening conditions.
The report also showed that the Tankan non-manufacturing index fell to 1.0 point in the fourth quarter, after rising to 2.0 points in the preceding quarter.
Analysts had expected the non-manufacturing index to fall to 0.0 points in the fourth quarter.
According to the report, the decline on the index came as a result of a strong yen and slowing overseas growth.
Following the release of the data, the yen was down against the U.S. dollar, with USD/JPY gaining 0.21% to hit 83.84.
In a report, the Bank of Japan said its Tankan manufacturing index fell to 5.0 points in the fourth quarter, after rising to 8.0 points in the preceding quarter.
Analysts had expected the index to fall to 3.0 points in the fourth quarter.
On the index, a level above 0.0 indicates improving conditions, below indicates worsening conditions.
The report also showed that the Tankan non-manufacturing index fell to 1.0 point in the fourth quarter, after rising to 2.0 points in the preceding quarter.
Analysts had expected the non-manufacturing index to fall to 0.0 points in the fourth quarter.
According to the report, the decline on the index came as a result of a strong yen and slowing overseas growth.
Following the release of the data, the yen was down against the U.S. dollar, with USD/JPY gaining 0.21% to hit 83.84.