Japan’s manufacturing conditions weaken further
Print Edition
JAPANESE manufacturing activity fell in June at roughly the same pace as May, a preliminary survey showed, but concerns remain due to supply chain disruptions from an earthquake in April and falling exports.
The Markit/Nikkei Japan Flash Manufacturing Purchasing Managers’ Index was a seasonally adjusted 47.8 in June, little changed from a final reading of 47.7 in the previous month.
The index remained below the 50 threshold that separates expansion from contraction for the fourth straight month.
The preliminary index for new orders was 45.8, higher than 44.7 in May, but still showing five consecutive months of contraction.
“Latest survey data pointed to a further deterioration in manufacturing conditions in Japan. Both production and new orders declined at marked rates, led by a sharp drop in international demand,” Markit said.
It said the earthquakes in April continued to have a negative impact on the PMI data.
Strong earthquakes struck the southern manufacturing hub of Kumamoto in mid-April, which destroyed houses, triggered landslides and disrupted production at electronics and car parts factories in the area.
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