Japan manufacturers less confident as high material costs bite: Reuters poll
TOKYO - Japanese manufacturers are markedly less confident about business than three months ago due to higher materials costs, the Reuters Tankan poll for June showed, though the index remained in positive territory for a fourth straight month.
"Passing on materials costs to customers and the increase in labour costs are sapping appetite for capital expenditure and other spending," a machinery maker manager wrote in the comment section of the poll. The non-manufacturers index climbed to a three-month high of +31 in June. That was up five points from May but one point lower than three months ago. It is expected to stay at +31 in September.
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