The manufacturing sector in Japan continued to contract in July, albeit at a slower rate, the latest survey from Jibun Bank showed on Monday with a manufacturing PMI score of 45.2.
That’s up from 40.1 in June, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, the downturn in output eased sharply in comparison to the second quarter months of 2020.
New orders declined at the smallest extent in five months, while business expectations continued to rebound from April’s low point.
Subdued demand conditions resulted in another steep fall in purchasing activity and tighter inventory policies among Japanese goods producers.