The Bank of Japan's Tankan index for big non-manufacturers' sentiment rose to 23 in the second quarter of 2019 from a two-year low of 21 in the previous period, beating market consensus of 20. Non Manufacturing Pmi in Japan averaged 5.44 from 1983 until 2019, reaching an all time high of 57 in the third quarter of 1990 and a record low of -41 in the fourth quarter of 1998.
Non Manufacturing Pmi in Japan is expected to be 18.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Non Manufacturing Pmi in Japan to stand at 21.00 in 12 months time. In the long-term, the Japan Tankan Index For Large Non Manufacturing Companies is projected to trend around 19.00 in 2020, according to our econometric models.