Japan: Markit/Nikkei PMI rose in June
The final index of business activity in the manufacturing sector of Japan rose to 48.1 in June, seasonally adjusted, compared with a preliminary reading of 47.8 and a final reading of 47.7 in May.
The index of business activity in the manufacturing sector is an important indicator of business conditions and the general economic conditions in Japan. The index value above 50 indicates growth and is bullish for the JPY, while the value index below 50 - bearish.
Japanese manufacturing activity declined in June or the fourth month in a row. Business survey showed that both domestically and overseas demand remains stubbornly weak.
The revised new orders index rose to 46.1, higher than the preliminary reading of 45.8 and higher than 44.7 in the previous month, but still emains weak for the past five months.