- Flash Japan Manufacturing PMI™ at 47.8 (47.7 in May). Flash headline PMI signals marked decline in operating conditions.
- Flash Japan Manufacturing Output Index at 47.8 (46.3 in May). Production declines at slower rate than May’s 25-month record.
Latest survey data pointed to a further deterioration in manufacturing conditions in Japan. Both production and new orders declined at marked rates, led by a sharp drop in international demand. The earthquakes that occurred back in April still seem to be having a detrimental effect on the goods-producing sector, although uncertainty caused by negative interest rates could also be a factor.
Consequently, employment growth eased to the weakest in nine months of expansion suggesting further stimulus may be needed in order to improve Japan’s economy.”