Japan's July PMI Points to Slowdown in Manufacturing Sector
- Nikkei Purchasing Managers Index hits lowest since Nov. 2016
- ‘Slowing demand presents a worrying development’: IHS Markit
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Japan’s manufacturing sector lost steam in July as demand for exports weakened.
The Nikkei Japan Purchasing Managers Index for manufacturers for July showed a preliminary reading of 51.6, the lowest since November 2016, and down from 53.0 in June. Output came in at 52.4, down from 53.6, and the index for stocks of finished goods fell. A reading above 50 indicates the sector is expanding, while one below that signals a contraction.