Japan Private Sector Expands Most In 4 Months
(RTTNews) - Japan's private sector grew the most in four months in June as manufacturing activity returned to growth amid stronger increase in services activity, flash data from S&P Global showed on Monday.
The au Jibun Bank flash composite output index posted 51.4 in June, which was up from 50.2 seen in May. A score above 50.0 indicates expansion.
The manufacturing Purchasing Managers' Index climbed to 50.4 from 49.4 in May. The index signaled the first improvement since May 2024. The reading was also well above the forecast of 49.5.
The services PMI advanced to 51.5 from 51.0 in the previous month. Although the index signaled moderate growth, the current period of expansion was extended to three months.
Total new business grew only slightly and subdued demand for manufactured goods weighed on export sales. Respondents cited that US tariffs and lingering uncertainty over the global trade outlook continued to inhibit customer demand.
The expectations for the year-ahead remained near a post-pandemic low. Cost pressures eased in June with input prices rising at the slowest pace in 15 months.
Further, companies raised their workforce numbers with overall employment rising the most in nearly a year.
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