Market News

Japan Preliminary Manufacturing PMI for June: 47.8 (prior 47.7)

23 June 2016, 07:34
Sherif Hasan
Sherif Hasan
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Preliminary Nikkei / Markit Japan manufacturing PMI for June

Barely changed on the month for the headline.
  • Fourth consecutive month in decline

In brief, the breakdown:

Amy Brownbill, economist at Markit:
"Latest survey data pointed to a further deterioration in manufacturing conditions in Japan. Both production and new orders declined at marked rates, led by a sharp drop in international demand. The earthquakes that occurred back in April still seem to be having a detrimental effect on the goods-producing sector, although uncertainty caused by negative interest rates could also be a factor. Consequently, employment growth eased to the weakest in nine months of expansion suggesting further stimulus may be needed in order to improve Japan's economy."     
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We'll get the 'final' for this measure in around a week. The flash reading here is based on the responses of 85 to 90% of those surveyed, so prospects for the final look grim indeed.  

#usdjpy, Manufacturing PMI, jpy, Preliminary Nikkei, Markit Japan