Jibun/Markit Manufacturing PMI for July, out earlier
Still showing contraction for the sector.
Comments from Markit:
- “Japan’s manufacturing sector remained severely impacted by the COVID-19 pandemic and subsequent downturn in worldwide economic conditions. However, the headline PMI recovered some of the ground lost in the second quarter, helped by the smallest declines in output and new orders for five months during July.
- “Manufacturers that reported a turnaround in production schedules typically cited a boost from easing emergency measures at home, alongside signs of recovery across the automotive supply chain and the restart of economic activity in key export destinations.
- “Looking at output trends by market group, consumer goods fared better than the rest of the manufacturing sector. Production of consumer goods was close to stabilisation in July, despite a headwind from weaker orders from abroad.
- “Capital goods was the worst-performing segment for export sales, highlighting that reduced global investment spending and constrained trade flows are holding back the Japanese manufacturing sector.”
Its still slow going n Japan.
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