Japan - Nikkei / Markit Manufacturing PMI for June, final.
- preliminary was 52.0
- prior 53.1
Key points:
- Sales to South East Asia support best gain in new exports since February
- PMI pulled lower by weaker rises in both output and new orders
- Increased global demand places pressure on supply chains for Japanese manufacturers
Commenting on the Japanese Manufacturing PMI survey data, Paul Smith, senior economist at IHS Markit:
- "Although final PMI data for June confirmed that growth slowed, the sector continues to benefit from rising global demand, especially from South East Asia which was a key source of new order wins.
- The current broad-based strength of global growth is also having a noticeable impact on supply chains, with Japanese manufacturers suffering the greatest delays to their ordered inputs since early 2014.
- Price pressures subsequently remain elevated, and led to a rate of pass-through to clients that matched April's near two-and-a-half year high."
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Down on the month, but still well into 'expansion' and more improvement for the manufacturing sector in Japan for June.