Japan PMI Manufacturing was finalized at 52.7 in August, just slightly down from July’s 53.0. Markit said output and new orders increased and slower rates. Export orders declined for the first time in seven months. Lead times lengthened to greatest extent in a decade amid ongoing disruption.
Usamah Bhatti, Economist at IHS Markit, said: “Latest PMI data pointed to a sustained expansion in the Japanese manufacturing sector midway through the third quarter…. A sharp rise COVID-19 cases in South East Asia was among the key factors listed by Japanese manufacturers for the easing in demand, both domestically and externally… Concurrently, severe supply chain disruption partly caused by pandemic restrictions and raw material shortages remained a dampener on production and orders.”
