Business confidence among Japan's large manufacturers likely slipped in the third quarter as the highly contagious COVID-19 Delta variant hit corporate and consumer activity, the central bank's closely watched Tankan survey is expected to show.
Other data is expected to show nationwide core consumer prices were flat in August compared with the same month a year earlier as rising costs for energy and overnight stays offset lower mobile phone fees, analysts said.
"Durable goods sales have been strong until now, making up for a slump in service consumption," said Takeshi Minami, chief economist at Norinchukin Research Institute. The mood among big non-manufacturers was also likely to fall slightly, but avoid slipping into net pessimism, coming in flat from plus 1 in June, the poll showed.that shows firms are facing renewed headwinds from the pandemic, which remain especially painful for service-sector firms.double-digit gains in August, although the pace of growth weakened as COVID-19 hit key Asian supply chains and slowed factory output.
Big firms will likely raise their capital spending plans by 9.1% for the current fiscal year as the outlook improves.is set
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