PMI Manufacturing was finalized at 47.2 in August, up from July’s 45.2. Markit noted slowest falls in output and new orders since early 2020. Export sales also decline at weakest rate for seven months. There is modest drop in employment.
Annabel Fiddes, Economics Associate Director at IHS Markit, said: “The latest PMI data show that Japan’s manufacturing sector moved closer to stabilisation in August, as firms signalled weaker drops in output and orders… It is hoped that as economies around the world reopen and business operations normalise, this will feed through to firmer customer demand and a recovery of Japanese manufacturing activity in the months ahead.”
