Japan business mood sours as weak yen squeezes consumers

Record ID: 1819193

  • Title: Japan business mood sours as weak yen squeezes consumers
  • Date: 17th April 2024
  • Summary: TOKYO, JAPAN (FILE - JUNE 6, 2023) (REUTERS) VARIOUS OF PEOPLE WALKING ACROSS SHIBUYA CROSSING TOKYO, JAPAN (FILE - JUNE 16, 2023) (REUTERS) VARIOUS OF PEOPLE WALKING PAST ELECTRONICS STORE CUSTOMERS BROWSING SHOP WORKER RESTOCKING SHELF BUILDINGS IN SHIBUYA VARIOUS OF PEOPLE WALKING WHILE HOLDING SHOPPING BAGS PEOPLE WALKING ON SHIBUYA STREET TOKYO, JAPAN (FILE - JUNE 13, 2023) (REUTERS) PEOPLE WALKING ON SHOPPING STREET PEOPLE BROWSING AT FISH MARKET FISH ON DISPLAY AT MARKET SHOPKEEPER HANDING BAG TO CUSTOMER MORIYA, IBARAKI PREFECTURE, JAPAN (FILE - APRIL 19, 2023) (REUTERS) CARDBOARD CASES FOR ASAHI SUPER DRY BEER MOVING ON PRODUCTION LINE CASES BEING FOLDED BY MACHINE CANS SETTLING INTO CARDBOARD CASES VARIOUS OF CASES OF ASAHI SUPER DRY MOVING ON CONVEYOR BELT KAMINOKAWA, TOCHIGI PREFECTURE, JAPAN (FILE - OCTOBER 7, 2021) (REUTERS) VARIOUS OF NISSAN ELECTRIC VEHICLE (EV) BEING ASSEMBLED IN FACTORY VARIOUS OF EV MOTORS BEING ASSEMBLED IN THE FACTORY TOKYO, JAPAN (FILE - MAY 2018) (REUTERS) VARIOUS OF CARGO SHIP DOCKED AT SHIPPING PORT CARGO CONTAINER BEING LIFTED FROM TRUCK CARGO CONTAINERS BEING STACKED TOKYO, JAPAN (FILE - JUNE 6, 2023) (REUTERS) VARIOUS OF TOKYO SKYLINE AND TOKYO TOWER
  • Embargoed: 1st May 2024 03:57
  • Keywords: BOJ Japan Tankan Tokyo business consumer dollar economy spending yen
  • Location: TOKYO, MORIYA, KAMINOKAWA, JAPAN
  • City: TOKYO, MORIYA, KAMINOKAWA, JAPAN
  • Country: Japan
  • Topics: Asia / Pacific,Economic Events
  • Reuters ID: LVA001575217042024RP1
  • Aspect Ratio: 16:9
  • Story Text: Business confidence at big Japanese manufacturers and services sector firms slid in April from the prior month, dragged down by cost-of-living pressures and shaky economic conditions in major market China, a Reuters monthly poll showed.
    The yen's weakening to levels unseen since 1990 during the heyday of the asset-inflated bubble is lifting the cost of imports in a blow to household consumption, according to the Reuters Tankan survey.
    Moreover, while the falling yen has boosted the value of exports, volume of shipments have not benefited as much, the survey found.
    The monthly Reuters Tankan, which closely tracks the Bank of Japan's quarterly tankan survey, was conducted during the time the Japanese currency hit its 34-year lows to the dollar beyond 153 yen. That has prompted repeated warnings from authorities that they stood ready to take action against speculative or destabilising currency moves. The dollar broke above 154 yen this week.
    (Production: Rikako Maruyama and Tom Bateman)
  • Copyright Holder: FILE REUTERS (CAN SELL)
  • Copyright Notice: (c) Copyright Thomson Reuters 2024. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
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