Japan Jibun preliminary manufacturing PMI for August: 52.4 (expected 53.4, prior 53.0)

Jibun / Markit flash manufacturing PMI for August, wilting from July but still in expansion. 

• Services: 43.5 (vs. July's 47.4) 
• Composite: 45.9 (July 48.8)

Commentary from the report, in brief:

• weaker demand to ongoing COVID-19 restrictions, coupled with sustained supply chain pressures
• decline in overall private sector activity was led by the larger services sector, where business activity fell for the nineteenth consecutive month and at the quickest pace since May 2020
• While manufacturers pointed to continued output growth, the rate of expansion softened from July
• Japanese private sector businesses noted that the recent surge in COVID-19 cases related to the Delta variant had dampened prospects in the latest survey period, as firms indicated the softest degree of optimism regarding the year-ahead outlook for one year. That said, positive sentiment was solid overall as vaccination rates continued to increase markedly.

Summary:

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August 23, 2021 at 12:33PM

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