Japan manufacturers' mood pinned near 11-year lows as pandemic hammers global demand

"Demand is still weak, both overseas and domestically," a manager at a chemicals maker wrote in the survey.

TOKYO: Japanese manufacturers remained close to the most pessimistic they have been in 11 years in July as the coronavirus outbreak hits global demand and deals a punishing blow to the export-reliant economy, the Reuters tankan survey showed on Wednesday.

But some firms, in particular those from the service sector, believed conditions would be less negative in the next few months, according to the monthly poll, which tracks the Bank of Japan's (BOJ) closely watched tankan quarterly survey.