The Bank of Japan released its Tankan survey on July 1, indicating a decline in business sentiment among companies in Kyushu and Okinawa for the first time in nine quarters. The overall sentiment index fell by 2 points to +19. This reflects weak consumer spending amid prolonged high prices. The survey, conducted from late May to June 28, involved over 1,000 companies. While the manufacturing sector saw an improvement of 4 points to +11, the non-manufacturing sector worsened by 4 points to +24, particularly in hospitality and retail. BOJ Fukuoka branch manager Kenji Sakuta stated that while consumer spending remains resilient, the focus will be on whether wage increases can outpace inflation. Source: Bank of Japan / NHK
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