- Flash Japan Manufacturing PMI™ at 49.6 in August (49.3 in July). The PMI signalled only a slight deterioration in the health of the sector that was the weakest in the current six-month sequence of decline.
- Flash Japan Manufacturing Output Index at 50.6 (49.4 in July). This highlighted the first increase in production since February (albeit marginal).
Japan’s manufacturing sector edged closer to stabilisation in August, but the latest batch of PMI data gave a mixed picture overall. Encouragingly, output expanded for the first time in six months (albeit marginally), while companies also saw softer reductions in total new work and export sales. However, the latest survey also registered a slight drop in employment for the first time since last September. Furthermore, relatively weak client demand alongside a strong yen prompted firms to cut their selling prices at the sharpest rate since October 2012 as part of efforts to attract new business.
