Flash reading for the Japan S&P Global / Jibun Bank PMIs for July 2023:
From the report, in brief:
- headline PMI slipped slightly further into contraction
territory, largely because of a quicker deterioration in new
order inflows, although the decline in production was also
sustained - Panel members often commented on weak
customer demand in both domestic and international
markets - There were sustained signs that inflationary pressures were
easing in July, as signalled by the slowest rate of input cost
inflation since February 2021 to a reading that was broadly
similar to the long-run series average. That said, selling price
inflation was unchanged from the previous survey period and
sharp overall as Japanese goods producers partially passed
higher cost burdens on to clients.
USD/JPY update:
—
The South Korean July manufacturing PMI comes in at 49.4 in July
- prior 47.8