Manufacturers reach a four-year high
The Reuters Tankan index for Japanese manufacturers rose to +27 in November 2026, up from +22 in October. It was the fourth straight monthly increase and the highest reading since August 2021, according to the survey published on 11 November.
Non-manufacturers improve too
Sentiment among non-manufacturers rose to +35, from +23 the previous month. That was the highest reading since June 2018, after the prior month\u2019s reading of +23 had been the lowest since November 2024. A positive index means more businesses report improving conditions than deteriorating ones.
What the survey signals
Business confidence feeds into hiring, investment and pricing decisions. A rise across both manufacturers and services suggests firms expect conditions to improve, though the Tankan is a survey of sentiment rather than a measure of output.
Context for readers
Business sentiment is closely watched by investors and by the Bank of Japan. For more on business and markets, see our business coverage and finance section.
Source: Reuters Tankan, November 2026 (survey published 11 November 2026).
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