Japan Manufacturing PMI Steady At 49.6 In August - Jibun
(RTTNews) - The manufacturing sector in Japan continued to contract in August, and at a steady pace, the latest survey from Jibun Bank revealed on Friday with a manufacturing PMI score of 49.6.
That's unchanged from the July reading and it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
There was a slower reduction in new order inflows during August. While firms registered a third consecutive reduction, the rate of contraction was only marginal overall. Weak client confidence and subdued economic conditions reportedly weighed on new orders, though some firms mentioned that new product launches had partially offset the decline.
Similarly, the rate of reduction in foreign demand for Japanese manufactured goods eased to the slowest for 13 months. Despite this, production levels at Japanese goods producers decreased at a moderate pace that was unchanged from that seen in July.
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