Japanese manufacturing PMI at 3-year high but retail sales fall
Japan: Manufacturing PMI figures for July show a rise to 53.6 from 50.4, a three year high. PMI output rose to 58.7 from 54.7.
In other data, Japan July Industrial Output was up 1.9% mth/mth, better than the forecast +1.4%. Industrial output grew 8.3% in Q2 after falling a record 22.1% in Q1. August manufacturers’ output was seen up 2.4%, below previous forecast of +3.3%. September Manufacturers’ output seen +3.2%.
Japan July retail sales was down 2.5% yr/yr, better than the forecast of -3.6%. Month on month, July retail sales came in at +0.4% s/adj.

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