The manufacturing productivity of Japan is now on a 4-month slump as revealed by a survey released on Thursday.
The month of August marked another blow in Japan’s manufacturing industry as the export orders were lower. However, the services sector productivity grew its fastest in almost two years, a sign that local demand is compensating for the weak exports of the country.
The Purchasing Manager’s Index (PMI) of the manufacturing aspect of the Jibun Bank Flash Japan increased from 49.4 to 49.5, but still below 50 point markers which determines its growth or expansion for the month.
A different survey, however, lifted the Japanese economy as its service activity grew which moved the PMI for manufacturing and services at a higher rate.
The Jibun Bank Flash Japan Services PMI was up with 53.4 for the month of August.
The Jibun Bank Flash Composite PMI grew to 51.7 from 50.6 in July.
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