The final for this PMI measure will be in around a week, for now it's the preliminary
Comes in at 52.0
- May came in at 53.1
Main points:
- seven-month low in June
- Flash Manufacturing Output Index at 52.1 (54.0 in May). Slowest growth for nine months
- Exports rise further and job creation sustained
Commenting ... Paul Smith, Senior Economist at IHS Markit:
- "Slower growth was signalled in June, with both orders and output rising at the weakest rates since late last year amid reports of a slight softening in market conditions.
- That said, external demand is holding up well, and the sector continues to operate within a solid growth range. This is helping support employment gains, whilst also enabling firms to pass costs on to clients to the greatest degree in over two-and-a-half years."
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A softening for the PMI this month (to be confirmed by the final for this data point next week). Still in expansion though. The comment from the Markit economist pointing to some positives for inflation (for the BOJ and their lofty target).
Earlier re Japan today:
- ICYMI: Japan's government raised its overall view of the economy, first time in 6 months
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USD/JPY up a few pips after the release ... updates:
