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Japan Manufacturing Sector Falls Into Contraction - Jibun
(RTTNews) - The manufacturing sector in Japan slipped into contraction territory in June, the latest survey from Jibun Bank revealed on Monday with a manufacturing PMI score of 49.8.
That's down from 50.6 in May and it falls beneath the boom-or-bust line of 50 that separates expansion from contraction.
Production levels fell for the eleventh time in the past year during June, commonly associated with falling new orders and a lack of suitable staff. The rate of decline was only modest, however. New orders also fell back into contraction during June, albeit only fractionally.
Panel members often mentioned a lull in demand for manufactured goods, notably for semiconductors and electronics. This extended to export orders, which fell for the sixteenth successive month in June and at the fastest pace since February amid weak demand from mainland China especially.
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