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(CEP News) - It will be a busy day in Japanese markets with a flurry of economic releases scheduled. Of those, the Tankan third-quarter survey results will be the main focus of the day.
The Tankan survey is expected to drop to -2 from the second quarter's reading of 5. The large manufacturing outlook component is forecasted to come in at -3, down from a previous reading of 4. Furthermore, the non-manufacturing component is expected to decline from a previous reading of 8 to a level of 2, while the all-industry capital expenditure component is forecasted to increase 2.5%, compared to a 2.4% rise in the second quarter. Economists are expecting the Tankan to show its first negative reading in five years following recent downbeat data for Japan. Kyohei Morita, economist with Barclays Capital, said, "The Tankan is likely to show severe conditions and reconfirm stagnation in the real economy." Furthermore, Japanese vehicle sales for September will be released. Markets will be interested to see if the Japanese car sales improve following August's 14.9% drop. Meanwhile, the Reserve Bank of Australia is scheduled to release its Commodity Index for month of September. The index increased 45.2% in August. The American International Group (AiG)'s performance of manufacturing index for Australia is also scheduled for release. In August, the index came in at a reading of 47. Tuesday 19:30 AU AiG Performance of Manufacturing Index September Prior: +47.0 19:50 JP Tankan Large Manufacturers Index Q3 Exp: -2.0 Prior: +5.0 19:50 JP Tankan Large Manufacturing Outlook Q3 Exp: -3.0 Prior:+4.0 19:50 JP Tankan Non-Manufacturing Q3 Exp: +5.0 Prior: +10.0 19:50 JP Tankan Non-Manufacturing Outlook Q3 Exp: +2 Prior:+8 19:50 JP Tankan Large All Industry Capex Q3 Exp: +2.5% Prior: +2.4% 21:00 CN PMI Manufacturing September Prior: +48.4 21:30 JP Labour Cash Earnings (Y/Y) August Exp: 0.0% Prior: +0.3% Wednesday 1:00 JP Vehicle Sales (Y/Y) September Prior: -14.9% 2:30 AU RBA Commodity Index SDR (Y/Y)% September Prior: +45.2% By Steve Stecyk,
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, edited by Nancy Girgis,
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