Manufacturing PMI from Japan for July, this is the final reading:
- 'flash' (i.e. the preliminary), came in at 52.2
- prior (June) 52.4
Key points from Markit:
- Slower gains in output and new orders recorded
- Rise in demand for high-tech manufactures offset in part by weaker rise in exports
- Optimism regarding future output hits series record high
Commenting on the Japanese Manufacturing PMI survey data, Paul Smith, senior economist at IHS Markit, which compiles the survey, said:
- "The expansion of the Japanese manufacturing sector was undermined somewhat during July by a slump in new export order growth, which led to the lowest rises in both output and new orders since the final few months of last year. "
- Moreover, sectoral growth was further impacted by ongoing marked deteriorations in delivery times, which deteriorated to the greatest extent for over five-and-a-half years. "However, sentiment reached its highest level in over five years of data collection and, combined with ongoing rises in staffing levels, provides some reassurance that growth should be sustained in the coming months."
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Not spectacular from Japan manufacturing, but not a bad result.
