Japan PMI Manufacturing was finalized at 53.0 in July, up from June’s 52.4. Markit said output and new orders rose at faster rates. There were sharp rise in cost burdens amid supply chain disruption. Businesses reported softer optimism regarding future output.
Usamah Bhatti, Economist at IHS Markit, said: “The Japanese manufacturing sector continued to see an improvement in operating conditions… the pace of expansion quickened as firms recorded stronger growth in both output and new orders… supply chain disruption continued to impact activity within the sector, with firms recording the second greatest deterioration in lead times in over a decade. Material shortages and logistical disruption contributed to a rapid rise in average cost burdens, as input prices rose at the fastest pace since September 2008.
