2023-08-23 01:24:40 ET
-
The au Jibun Bank Japan Manufacturing PMI edged up to 49.7 in August 2023 from a final 49.6 in July, above market estimates of 49.5, flash data showed. It was the third straight month of contraction in factory activity, with output, new orders, and export sales all declining at softer paces. Also, buying levels fell less than in the prior month.
-
Finally, sentiment weakened but remained positive.
-
The au Jibun Bank Japan Services PMI improved to a three-month high of 54.3 in August 2023 from 53.8 in July.
-
It was the 12th consecutive month of growth in the service sector and the fastest pace since May, lifted by a solid rise in new orders, with new business from abroad also increasing despite the rate of expansion eased.
- Finally, business sentiment continued to slide, falling for the fourth straight month to its weakest since January.
- The au Jibun Bank Japan Composite PMI rose to 52.6 in July 2023 from a final 52.2 in the prior month, a flash reading showed, marking the eighth straight month of expansion in private sector activity and the steepest pace in three months, with the service sector again driving the overall expansion as manufacturing fell for the third month in a row.
-
More on Japan economy:
-
Japan core inflation slows in July as expected, headline inflation unchanged at 3.3%
-
Japan industrial output growth revised upward to 2.4% in June
-
Japan producer prices rise 3.6%, the least in over two years
-
EWJ: Japan Will Need More Than Just Ultra-Loose Monetary Policy And Corporate Reforms
For further details see:
Japan factory activity improved in August, and services PMI rises to 3-month high