Japan's Private-Sector Guardedly Optimistic in June: S&P Global Report

MT Newswires Live
07-10

Japan's private sector remained optimistic in June, but the level of confidence edged lower in the face of US tariffs and a sluggish global economy, reported S&P Global.

Japan's companies expect output to rise in the next 12 months, but "the degree of positive sentiment edged down to the lowest since June 2020, as concerns over the global economy and trade environment dampened projections," reported S&P Global on Wednesday, citing its survey of industry.

When Japanese enterprises were optimistic, they cited efforts to broaden exports beyond the US, stronger domestic economic conditions, new product launches, and "greater inbound tourism and a boost to domestic consumption from higher wages," said S&P Global.

In addition, strong demand for high-tech gear, such as semiconductors and AI-related goods, was among areas of anticipated growth in June, said S&P Global.

Despite qualms about the global outlook, Japan's companies leaned towards more hiring in June.

"Although sentiment around future business activity weakened slightly in June, Japanese companies expressed stronger confidence around staff recruitment," said S&P Global.

Somewhat in contrast to hiring plans, in June Japan's enterprises were muted on plans for capital spending and research & development outlays, slightly lower than in the previous survey, said S&P Global.

Japan's business managers in June expected ongoing price pressures in the next 12 months, especially for labor.

Business "cost pressures (are) set to remain strong by historical standards. Staff costs are anticipated to rise particularly sharply," advised S&P Global.

Japanese companies were surveyed by S&P Global from June 12 through June 25.

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