August PMIs via the Jibun/Markit survey

Services: 42.9

  • preliminary 43.5 (July 47.4)
  • 42.9 is its lowest since May of last year
  • rise in employment is a bright spot, firms said to be preparing for a bounce back

Composite: 45.5

  • preliminary 45.9 (July 48.8)

Via Markit on the background to the survey:

  • State of emergency restrictions have been extended to 21 prefectures and affect approximately 80% of the population, including large cities such as Tokyo, Kyoto and Hokkaido.
  • Nonetheless, business remains optimistic that the pandemic will recede amid an ongoing vaccination programme which should stimulate a broad-based economic recovery.

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Also published was Markit's HK PMI for AUgust, 53.3 (prior 51.3)