Japan Jibun preliminary manufacturing PMI for August: 52.4 (expected 53.4, prior 53.0)

Jibun / Markit flash manufacturing PMI for August, wilting from July but still in expansion. 

  • Services: 43.5
    (vs. July’s 47.4) 
  • Composite: 45.9
    (July 48.8)

Commentary from the report, in brief:

  • weaker demand to ongoing COVID-19 restrictions, coupled with sustained supply chain pressures
  • decline in overall private sector activity was led by the larger services sector, where business activity fell for the nineteenth consecutive month and at the quickest pace since May 2020
  • While manufacturers pointed to continued output growth, the rate of expansion softened from July
  • Japanese private sector businesses noted that the recent surge in COVID-19 cases related to the Delta variant had dampened prospects in the latest survey period, as firms indicated the softest degree of optimism regarding the year-ahead outlook for one year. That said, positive sentiment was solid overall as vaccination rates continued to increase markedly.

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