Jibun Bank Japan manufacturing purchasing managers index 49.8 in August (vs. 49.1 prior)
The flash reading for this is here:Japan data - August flash Manufacturing PMI 49.5 (prior 49.1) Services 54.0 (prior 53.7)The final reading is 49.8, still below 50 and thus still in contraction. From the report, in summary:softer and modest fall in new ordersoutput returned to expansion for the second time in three months, reached the highest since May 2022employment growth picked up on the monththe level of outstanding business continued to moderate sharplyinput price inflation strengthened to reach a 16-month high (higher raw material prices and exchange rate weakness)new export volumes declined at a rate that was the most marked since March amid evidence of low demand from key export markets including Mainland China and South KoreaEarlier from Japan:Japan Q2 business capex +7.4% y/y (vs. expected +9.9%)Yen on the move in early Asia Monday trade This article was written by Eamonn Sheridan at www.forexlive.com.
The flash reading for this is here:
The final reading is 49.8, still below 50 and thus still in contraction.
From the report, in summary:
- softer and modest fall in new orders
- output returned to expansion for the second time in three months, reached the highest since May 2022
- employment growth picked up on the month
- the level of outstanding business continued to moderate sharply
- input price inflation strengthened to reach a 16-month high (higher raw material prices and exchange rate weakness)
- new export volumes declined at a rate that was the most marked since March amid evidence of low demand from key export markets including Mainland China and South Korea
Earlier from Japan:
This article was written by Eamonn Sheridan at www.forexlive.com.
