Japan July Manufacturing PMI (final): 49.1 (prior 50.0)

August 01, 2024 at 01:30AM
S&P Global / Jibun Bank Japanese Manufacturing PMI for July 2024 comes in at 49.1

first time under 50 (and into contraction) in 3 months

prior 50.0, preliminary 49.2

In summary:

There was a significant reduction in new orders, leading to a sharp decline in production levels.

Input price inflation reached its highest since April 2023, driven by increased costs in labor, logistics, and raw materials.

Employment levels increased for the fifth consecutive month, reflecting optimism for future demand recovery.

This article was written by Eamonn Sheridan at www.forexlive.com.