The Japanese Tankan Manufacturing Survey painted a gloomy picture for the sector today. The index printed at -4 compared to market expectations of a print of -2. In the previous month, the index printed at 2. This quarterly survey is taken from large manufacturers, which are the lifeline of the Japanese economy. Even worse, the mood at large manufactures is increasingly pessimistic and points towards a print of -5 in the first quarter of 2012. Read more
