Jibun / Markit final manufacturing PMI for August
Markit remarks for their report:
- "Latest PMI data pointed to a sustained expansion in the Japanese manufacturing sector midway through the third quarter. That said, the improvement eased from the previous survey period as firms noted softer growth in both production and new orders, with the latter rising at the softest pace since January.
- "A sharp rise COVID-19 cases in South East Asia was among the key factors listed by Japanese manufacturers for the easing in demand, both domestically and externally. In fact, new export orders fell into contraction territory for the first time since the start of the year.
- "Concurrently, severe supply chain disruption partly caused by pandemic restrictions and raw material shortages remained a dampener on production and orders, as manufacturers commented on difficulty sourcing and receiving inputs. Average lead times in August lengthened to the greatest extent since the earthquake and tsunami struck in 2011.
- "Though still optimistic, Japanese goods producers were wary of the continued impact of the pandemic and supply chain disruption, which resulted in confidence dipping to the softest since January."
Bolding above mine, a familiar theme right across the globe.
---
Markit release other Aisa manufacturing PMIs at the same time:
- South Korea 51.2 (53.0 prior)
