Japan's Tankan Small Non-Manufacturing Index experienced a slight drop in the first quarter of 2024, falling to 13 from 14 in the previous quarter. The data, which was updated on 31 March 2024, indicates a small decline in sentiment among non-manufacturing businesses in Japan. The Tankan survey is closely watched as it provides a comprehensive overview of the economic outlook and sentiment among businesses in Japan.
The decrease in the Tankan Small Non-Manufacturing Index could signal potential challenges ahead for the services sector in Japan. With the ongoing impact of the COVID-19 pandemic and global economic uncertainties, businesses in the non-manufacturing sector may be facing a more cautious outlook. Analysts will be monitoring future Tankan surveys closely to gauge the resilience and recovery of Japan's services industry in the coming quarters.
