Japan witnesses weak growth in manufacturing sector for July
DSIJ Intelligence / 24 Jul 2017
From 52.4 in June, the Nikkei Flash Japan Manufacturing Purchasing Managers’ Index (PMI), dipped to an eight-month low of 52.2 in the month of July.
From 52.4 in June, the Nikkei Flash Japan Manufacturing Purchasing Managers’ Index (PMI), dipped to an eight-month low of 52.2 in the month of July.
A reading above 50 shows an improvement, while one below 50 signals a contraction in manufacturing activity.
Paul Smith, senior economist at IHS Markit, which compiles the PMI survey, said."The slowdown was driven by stagnation in export orders, amid reports of weaker demand from Southeast Asia markets."
"None the less, the sector continues to add jobs, with employment growth remaining among the best since the financial crisis, while optimism hit its highest level in five years of data collection," he added.
The Flash PMI is based on around 85% of total PMI survey responses. The final July data will be published on August 1.
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