<p>Jibun Bank / Markit Services PMI from Japan for August 2022</p><p>Comes in at 49.5, dropping into contraction for the first time in 5 months.</p><ul><li>Composite is 49.4</li></ul><p>more to come </p><p>The flash and priors for these can be found here:</p><ul><li><a href="https://www.forexlive.com/news/japan-august-preliminary-flash-manufacturing-pmi-510-vs-prior-521-20220823/" target="_blank">Japan August preliminary (flash) Manufacturing PMI</a></li></ul><p>From the report:</p><ul><li>Japan's private sector fell back into contraction in August, as the economy faced a sharp surge in COVID-19 case numbers. Although the falls in total output and new business were only slight, it was the first time that they had declined since February.</li><li>Sector data showed that a renewed drop in services activity accompanied a further drop in manufacturing production, with the latter falling at the quickest pace since September 2021. However, service providers noted a weaker drop in output than those seen at the start of 2022, when there was also a spike in infections, as pandemic-related restrictions have been eased notably since then. </li><li>Nevertheless, with Japan now facing its seventh and most serious wave of the pandemic, strong cost pressures and a worsening global economic outlook, it's likely that Japan's private sector will remain under pressure in the months ahead.</li></ul><p>eur</p>
This article was written by Eamonn Sheridan at www.forexlive.com.
