Japan final manufacturing PMI for June 50.0 (prior 50.4)

Jibun S&P Global June 2024 Manufacturing PMI comes in at 50.0

• prior 50.4
• preliminary was 50.1

From the commentary to the report:

• “Notably, the latest PMI data revealed the first rise in
  Japanese factory production for over a year, and a
  rebound in business confidence. Although employment
  continued to be impacted by retirements, there was
  another round of net job creation in June.
• “However, there were some concerning aspects in the
  latest figures, with companies grappling with heightened
  cost pressures as yen depreciation exacerbated the price of
  imported materials. Labour was another factor straining
  budgets. There was clear evidence that the sharp rise in
  overall purchasing prices was not caused by supply-chain
  issues, as delivery times in fact improved to the greatest
  extent in over 15 years.
• “Manufacturers raised their selling prices at the
  strongest rate in over a year as a result, an unfavourable
  consequence given that both domestic and external
  demand remain weak.”

This article was written by Eamonn Sheridan at www.forexlive.com.