Big manufacturers39; sentiment index at 9 vs f39;cast 13
Big nonmanufacturers39; index at 13 vs f39;cast 14
Capex plans for big firms seen rising 18.6 yryr in fiscal 2022
Tokyo core consumer prices rises at fastest pace in 7 years
Tankan among data to be scrutinised at BOJ39;s July 2021 meeting
TOKYO, July 1 Reuters The mood among Japan39;s big manufacturers39; soured for a second straight quarter in the three months to June, a central bank survey showed on Friday, hit by rising input costs and supply disruptions caused by China39;s strict COVID19 lockdowns.
But confidence among big nonmanufacturers improved in the quarter, the tankan quarterly survey showed, suggesting servicesector firms are shaking off the drag from the pandemic as the government lifts curbs on activity.
Firms expect to ramp up capital expenditure and are steadily passing on costs to consumers, the tankan showed, suggesting the economy remains on course for a moderate recovery.
Analysts, however, warn of a murky outlook as growing fears of a U.S. economic slowdown and steady price hikes for daily necessities weigh on exports and domestic consumption.
All in all, the tankan figures aren39;t too bad. The strong capital expenditure plan is a surprise and shows corporate spending appetite remains solid, said Yoshiki Shinke, chief economist at Daiichi Life Research Institute.
But manufacturers expect to see profits fall, which could affect their spending plans ahead. Rising input costs and…