Japan’s July PMI recovers, downturn eases sharply
Aug 03, 2020 15:30
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Japan’s Purchasing Managers’ Index (PMI) for its manufacturing industry recovered by a large 5.1 points on month to 45.2 points in July, though the result was still below the threshold value of 50 connoting growth. Nonetheless, index provider au Jibun Bank Corp noted the reading was the highest since February and indicated that Japanese business expectations continue to recover from their low in April.
The July PMI suggested some encouraging signs of a
recovery across the Japanese manufacturing sector, au Jibun said in release on
August 3, pointing out that while production and new orders fell again during
the month, the rate of decline was the slowest over the past few months since
coronavirus appeared in Japan.