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Financial News: Japan Manufacturing PMI Drops To 52.7 In August

Japan Manufacturing PMI Drops To 52.7 In August - Jibun

08/31/2021 - 21:10:00 (RTTNews)

(RTTNews) - The manufacturing sector in Japan continued to expand in August, albeit at a slower pace, the latest report from Jibun Bank showed on Wednesday with a manufacturing PMI score of 52.7.

That's down from 53.0 in July, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Firms reported slower expansions in both production and incoming business, with the latter increasing at the softest pace since January. Manufacturers often noted that rising COVID-19 cases both domestically and in Southeast Asia had dampened output and demand. As such, new export orders saw a renewed decline, the first since the start of the year.

At the same time, supply chain disruption continued to hamper manufacturing activity across Japan, as firms noted the strongest deterioration in average lead times since the 2011 earthquake and tsunami.

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