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Financial News: Japan Manufacturing PMI Ebbs In July - Jibun

Japan Manufacturing PMI Ebbs In July - Jibun

07/21/2022 - 20:42:00 (RTTNews)

(RTTNews) - The manufacturing sector in Japan continued to expand in July, albeit at a slower pace, the latest survey from Jibun Bank said on Friday with a manufacturing PMI score of 52.2.

That's down from 52.7 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Output returned to contraction territory for the first time in five months in the latest survey period, albeit only marginally while new orders fell at the fastest pace since November 2020. Manufacturers continued to signal strong inflationary pressures, as input price inflation accelerated for the first time since May.

Positively, firms indicated that supply chain disruption had eased further, with the latest lengthening in delivery times the softest for 11 months.

The survey also showed that the services PMI fell to 51.2 in July from 54.2 in June, while the composite PMI slipped to 50.6 from 53.2 a month earlier.

Growth in new business inflows also eased and reached the slowest in the current three-month sequence. Positively, there were signs that inflationary pressures faced by service providers were peaking, as the rate of input price inflation eased for the first time in four months, which contributed to the softest rise in prices charged in three months.

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