8/2, 2:32 AM (Source: TeleTrader)
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Japan's factory activity expands further in July

The Japanese Jibun Bank Flash Manufacturing PMI Index surprised expectations in July, improving by 0.6 points to land at 53, compared to last month's results, IHS Markit's according to a report released on Monday local time.

The headline figure landing above the neutral 50 marks an upturn in Japan's manufacturing activity with manufacturers signaling a quicker improvement in operating conditions compared to the previous survey period.

"Beyond the immediate future, Japanese manufacturers remained confident that output would rise over the coming 12 months, although sentiment was at its lowest for three months," said IHS Markit's Economist Usamah Bhatti. "Firms were hopeful that a successful vaccine programme would help to end the pandemic and reduce pressure on supply chains, boosting demand across the manufacturing sector," Bhatti added.

Breaking the News / NL