The Bank of Japan's latest Tankan survey reveals that the sentiment among large non-manufacturing firms remained unchanged in the fourth quarter of 2024. Despite economic fluctuations on the global stage, the Tankan diffusion index for large non-manufacturers held steady at 28, same as the revised figure from the third quarter.
The Tankan survey, a critical gauge of business sentiment, particularly in Japan's non-manufacturing sector which includes industries such as retail and finance, suggests that these firms maintain an upbeat outlook. Given the challenging international economic environment, including factors such as rising interest rates and geopolitical uncertainties, the maintenance of this index level indicates a stable domestic service sector capacity.
The report, updated on 12 December 2024, underscores the resilience of Japan's large non-manufacturing firms, highlighting a robust structural integrity in service-related sectors. This steadiness in business sentiment arrives as major economies continue to navigate through inflationary pressures and supply chain constraints, and may suggest cautious optimism amongst Japanese service providers for the upcoming quarters.
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