Tankan is a statistical survey conducted by Bank of Japan based on statistical methods, which aims to accurately understand the company's trends across the country and contribute to the proper management of monetary policy. Tankan Small Non-Manufacturing Outlook reflects forecasts of small service companies in Japan concerning the pace of the economic growth and business environment for the next quarter.
There are about 3.8 million small companies in Japan. The survey is implemented in writing or as an online questionnaire, quarterly, for approximately 10,000 companies across the country. Respondents are asked about business conditions, supply and demand, volume of orders, employment, profit, etc. The question items are roughly divided into "judgment items" that reflect the company's subjective judgments, "sales value" which should be actual values of figures such as deposits and cash, and "count items" which reflect plan values. Respondents can choose from three alternatives, Favorable, Not so favorable, Unfavorable.
A higher that expected reading is seen as positive for the JPY quotes, while lower values are usually seen as negative.
The chart of the entire available history of the "Bank of Japan (BoJ) Tankan Small Non-Manufacturing Outlook" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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