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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
JAPAN DATA
Preliminary PMI prints for July were reasonably close to June outcomes. The Jibun Bank manufacturing PMI edged back to 49.4 from 49.8, while the services slipped to 53.9 from 54.0. This still left the composite PMI unchanged at 52.1 for the month.
- The manufacturing PMI has edged back under the expansion/contraction line in recent months, but we remain above February lows from earlier in the year at 47.70 (see the chart below). The detail showed the output index a touch higher at 48.4 versus 48.1 in June, but new orders fell versus the prior month.
- On the services side, we remained comfortably in expansion for the headline index, albeit with a modest loss of momentum. Details showed the employment sub-index falling to 49.9 from 52.9 prior, but prices charged rose versus the previous month.
Fig 1: Japan PMIs
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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