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

23 June 2016, 07:34
Sherif Hasan

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."     

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.  

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