Japan Nikkei Services PMI (June) +49.4 (prior +50.4), Composite 49.0 (previous +49.2)

5 July 2016, 06:59
Sherif Hasan
0
20
New business fell the fastest in almost five years, from 50.4 previously to 47.3
  • Services below 50 for the first time in two months

  • Yen appreciation cited as hampering sales
  • April  earthquakes also adversely hit demand
  • China uncertainty

  • Composite index (for output in both manufacturing and services) fourth consecutive month of contraction
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Wow ... the data has been disappointing today. Not just Japan, but China (at least services PMI up, but across servcie and manufacturing - i.e. composite - down) and Australia too.
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