Japan, Nikkei manufacturing PMI (final) for July 51.2

  • Highest in 5 months
  • Flash was 51.4
  • prior (June) was 50.1

Production and new orders both in expansion.

Comment from Amy Brownbill, economist at Markit:

  • "Latest survey data signalled an improvement in operating conditions in the Japanese manufacturing sector.
  • Growth in new orders resumed, supporting further increases in both output and employment.
  • According to anecdotal evidence, stronger demand conditions and the securing of new clients led to the latest expansion in production.
  • Meanwhile, growth in international demand eased from June's 18- month record, but was nevertheless solid in the context of historical data.
  • On the price front, inflationary pressures strengthened amid reports of the falling yen against the dollar driving up raw material costs. That said, the rate of increase was weaker than the long-run series average."