(RTTNews) - Markit Economics said on Friday that the Japan Nomura / JMMA manufacturing purchasing managers' index fell to a seasonally adjusted 52.8 in July from 53.9 in the previous month - a four month low.A reading above 50 indicates expansion while one below suggests contraction. This marks the second straight month in which the headline PMI has fallen.
Manufacturing output in Japan rose again in July, although the rate of expansion was the slowest in 13 months. Panelists linked the rise in output to a further inflows of new business.
New orders received by manufacturers continued to rise in July, mainly reflecting firmer market demand. However, a number of respondents cited the uncertain economic outlook as having negatively impacting upon clients' spending patterns.
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Japan Manufacturing Growth Slows
(RTTNews) - Markit Economics said on Friday that the Japan Nomura / JMMA manufacturing purchasing managers' index fell to a seasonally adjusted 52.8 in July from 53.9 in the previous month - a four month low.
A reading above 50 indicates expansion while one below suggests contraction. This marks the second straight month in which the headline PMI has fallen.
Manufacturing output in Japan rose again in July, although the rate of expansion was the slowest in 13 months. Panelists linked the rise in output to a further inflows of new business.
New orders received by manufacturers continued to rise in July, mainly reflecting firmer market demand. However, a number of respondents cited the uncertain economic outlook as having negatively impacting upon clients' spending patterns.
Employment in the Japanese manufacturing sector rose again in July, led by further growth in new business and company expansion plans. The rate of job creation was only modest, however.
"These results suggest that the expansion of manufacturing output is easing off gradually against a backdrop of slower growth in new orders," said Minoru Nogimori, economist at Nomura. "We expect exports, particularly to Asia, to remain firm and the improvement of manufacturing to continue for some time yet, albeit at a slowing pace."
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