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Commodity Pre Session News

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(05 Aug 2024, 09:13)

Economic Buzz: Japan Composite PMI Rises to 52.5 in July

The au Jibun Bank Japan Composite PMI rose to 52.5 in July 2024, slightly down from the flash estimate of 52.6, but up from June's 49.7, the lowest in seven months. This marks the sixth expansion in private sector activity this year, driven by solid growth in the service sector despite a contraction in manufacturing. New orders continued to rise, primarily in services. Employment growth remained steady, with a quicker pace than in June. While outstanding business was stable overall, a modest increase in services was balanced by a significant drop in manufacturing. Cost burdens grew robustly, and companies raised their selling prices for the 40th consecutive month to protect profit margins.
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