MARKET INSIGHTS & ETF SOLUTIONS
04/04/2019
BOJ Tankan—Positive Decoupling
The latest Bank of Japan Tankan survey of Japanese business conditions points to an
increasingly positive gap in Japan’s macroeconomic conditions. While manufacturers have
been pulled into a slowdown-induced global recession, the domestic small and medium-sized
non-manufacturing sector continues to expand. In other words, domestic demand appears to
be decoupling positively from the global cycle.
increasingly positive gap in Japan’s macroeconomic conditions. While manufacturers have
been pulled into a slowdown-induced global recession, the domestic small and medium-sized
non-manufacturing sector continues to expand. In other words, domestic demand appears to
be decoupling positively from the global cycle.