Japan PMI Manufacturing was finalized at 52.4 in June, down from May’s 53.0. Markit said output and new orders both rose at softest rates for five months. Input prices rose at fastest pace in over 10 years. Optimism was strongest on record.
Usamah Bhatti, Economist at IHS Markit, said: “Japanese manufacturers commented that the degree of optimism regarding the outlook for output over the coming 12 months strengthened in June. Confidence about the outlook reached the highest level since the series began in July 2012, as hopes of an end to the pandemic gathered pace. This is broadly in line with the IHS Markit forecast for industrial production to grow 8.8% in 2021, though this does not fully recoup losses from the pandemic.”
