Japan July Manufacturing PMI (final): 49.1 (prior 50.0)

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.

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