RTTNews reports that the latest survey from Jibun Bank showed that the manufacturing sector in Japan continued to expand in July, albeit at a slower pace, with a manufacturing PMI score of 52.2. That's down from 52.4, although it remains above the boom-or-but line of 50 that separates expansion from contraction.
Both output and new order growth eased to six-month lows amid rising COVID-19 cases and ongoing delays in receiving raw materials. Manufacturers also noted that demand for staff eased in July, with the rate of job creation the softest since April. Nonetheless, positive sentiment remained strong overall.
The survey also showed that the services PMI fell to 46.4 from 47.2 in June, while the composite index slipped to 47.7 from 48.9.
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