S&P Global / Jibun Bank Japanese Manufacturing PMI for July 2024 comes in at 49.1
- first time under 50 (and into contraction) in 3 months
- prior 50.0, preliminary 49.2
In summary:
- There was a significant reduction in new orders, leading to a sharp decline in production levels.
- Input price inflation reached its highest since April 2023, driven by increased costs in labor, logistics, and raw materials.
- Employment levels increased for the fifth consecutive month, reflecting optimism for future demand recovery.
