Japan’s manufacturing sector down in August
The Jibun Bank Flash Manufacturing PMI Index increased in line with expectations in August, landing at 46.6 which marks a 1.4 increase compared to last month’s results, according to IHS Markit’s report.
The data, released on Friday, shows Japan’s private sector’s economic downturn persisting in August. The Flash Services Business Activity Index decreased to 45.0 from last month’s 45.4. In the meantime, the Flash Composite Output Index remained unchanged, as the Manufacturing Output Index rose to 44.7, improving slightly from the figure seen in July.
“The prospect of a solid recovery remains highly uncertain as Japanese firms were pessimistic about the business outlook on balance during August. Rising unemployment may also hit domestic household income spending in the months ahead,” IHS Markit’s Principal Economist Bernard Aw said.
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