Japan Markit/JMMA Manufacturing PMI for June (China flash PMI due at 2145GMT)

From Amy Brownbill, Economist at Markit, which compiles the survey said:

  • “With new orders and output returning to growth in June only three months after the increase in sales tax, it looks like the Japanese manufacturing sector has taken a positive upward trajectory.
  • Alongside growth in output, manufacturers increased their purchases from a previous month of decline. Many attributed this to a rise in incoming new orders creating the image of an improving economy.
  • One worrying piece of evidence, however, was a decline in payroll numbers in June for the first time in eleven months. That said, the fall in payroll numbers was only slight so hopefully is short-lived.”
Japan flash manufacturing PMI 23 June 2014

  • Highest since March and back into expansion