Nikkei manufacturing PMI for July, 49.3

  • Flash was 49.0
  • Prior was 48.1

5th month in contraction

  • Respondents citing demand weakness
  • Also, strong yen weighing on exports
  • Production and new orders declined again, but at a slower rate
  • Very tiny pick up in employment component ... but any time I can type 'pick up' in a story about Japan's economy is welcome news