Japan Manufacturing Sector Fades In July - Jibun Bank
(RTTNews) - The manufacturing sector in Japan continued to expand in July, albeit at a slower pace, the latest survey from Jibun Bank revealed on Monday with a manufacturing PMI score of 52.1.
That's down from 52.7 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
There were renewed declines in both production and new order volumes at the start of the third quarter. Firms often attributed this to rising inflationary pressures and raw material shortages, which led to both output and demand falling for the first time in five and ten months, respectively.
At the same time, new export sales continued to fall in July, extending the current sequence of decline to five months. That said, the latest contraction was the softest in the current sequence and only modest.
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