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Japan Aug, P Jibun Bank Manufacturing PMI.....>

JAPAN
JAPAN: Japan Aug, P Jibun Bank Manufacturing PMI 49.5; Jul 49.4
- Japan Aug, P Jibun Bank Services PMI 53.4; Jul 51.8
- Japan Aug, P Jibun Bank Composite PMI 51.7; Jul 51.2
- "Preliminary August PMI data give plenty of promise that the solid growth
trend seen in the GDP outturns so far this year could indeed stretch into the
third quarter, providing a timely boost before the fourth quarter, which is
likely to be adversely impacted by the consequences of the sales tax hike."
- "indeed if forward-looking indicators such as new orders are considered, the
underlying trajectory of the economy should have further room to sustain a
decent growth path."
- "The driving force behind this remains the service sector, which is being
lifted by resilient demand within the domestic economy. Flash data showed
services activity growing at the fastest rate in almost two years in August,
allaying fears, at least for the time being, that strong external headwinds
being felt within manufacturing could spread to other parts of the economy."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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