The latest PMIs from Japan - Earlier this week: Japan - Nikkei / Markit manufacturing PMI (final, July): 52.1 (prelim was 52.2)
Both down a little on the month and both still sitting in the 'expansion' area.
Key points on the results made by Markit:
- Both activity and new work rise at slower rates
- Capacity pressures sustained; workforce numbers rise
- Confidence dips to lowest level since February
Commenting on the Japanese Services PMI survey data, Paul Smith, Director at IHS Markit, which compiles the survey, said:
- "The Japanese private sector made a solid, albeit unspectacular, start to the third quarter of the year, with growth being maintained, but at the slowest rate since last October. Weaker expansion was registered across both manufacturing and service sectors in line with weaker gains in new business compared to previous months.
- "Nonetheless, highlighting the generally steady and benign growth environment, companies continue to add to their payroll numbers at a steady clip as positive expectations for output and demand over the coming months were maintained."
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This tends not to be too much of an immediate forex mover, more for background on progress for the Japanese economy.
