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Mixed data point to slow recovery in Japan – Danske Bank

FXStreet (Edinburgh) - Senior Analyst Flemming Nielsen at Danske Bank assessed the last mixed Tankan results from the Japanese economy.

Key Quotes

“In Japan the Tankan business survey was a mixed bag”.

“On a positive note, current conditions for large manufacturers were better than expected and large manufacturers plan to increase their capital expenditures by 8.6% in the current fiscal year, suggesting they have not lost confidence in the economy”.

“However, business sentiment for the non-manufacturing industry was markedly weaker than expected”.

“Hence, it appears the consumption tax hike in April is hurting, while manufacturers benefit from a weak yen”.

“Overall Tankan still suggests a weak recovery in Japan”.

United Kingdom Markit Manufacturing PMI registered at 51.6, below expectations (52.5) in September

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