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Financial News: Japan Manufacturing PMI Picks Up Steam In July

Japan Manufacturing PMI Picks Up Steam In July - Jibun

08/01/2021 - 21:20:00 (RTTNews)

(RTTNews) - The manufacturing sector in Japan continued to expand in July, and at a faster pace, the latest survey from Jibun Bank showed on Monday with a manufacturing PMI score of 53.0.

That's up from 52.4 in June, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

The improvement in operating conditions stemmed from a sixth successive rise in production volumes in July, and at a quicker pace than the previous survey period. Firms often attributed this to improved orders in key manufacturing industries in Japan, notably automotive and semiconductors.

The rate of production growth was modest overall, however, constrained by reports of difficulties in sourcing and receiving raw materials.

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