Japan July Factory Activity Shrinks for Fifth Month but at Slower pace, Export Orders Slump – PMI

Japanese manufacturing activity shrank in July at a slower pace than the previous month but new export orders contracted the fastest in more than 3-1/2 years, a private survey showed on Monday, in an indication that recent yen gains are hurting exporters.

The IHS Markit/Nikkei Japan Final Manufacturing Purchasing Managers Index (PMI) rose to 49.3 in July, versus a preliminary 49.0 and a final reading of 48.1 in June.

But the headline index remained below the 50 threshold that separates contraction from expansion for the fifth month.

Reuters

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