Japan’s au Jibun Bank flash manufacturing PMI falls to 52.2 in July

SINGAPORE (ICIS)–au Jibun Bank’s flash manufacturing purchasing managers’ index (PMI) for Japan slipped to 52.2 in July from 52.4 in June due to lower output and new order growth, the Japanese bank said on Monday.

A PMI reading below 50 indicates a contraction in the manufacturing economy.

Both output and new order growth eased to six-month lows in the latest survey period amid rising COVID-19 cases and ongoing delays in receiving raw materials.

“Manufacturers also noted that demand for staff eased in July, with the rate of job creation the softest since April,” au Jibun Bank said in a statement.

“Nonetheless, positive sentiment remained strong overall, despite easing slightly from June,” it added.

Interactive  by Nurluqman Suratman