Group 1 - Japan's manufacturing activity has contracted for the second consecutive month in August, primarily due to the impact of U.S. tariff policies and weak overseas demand [1] - The preliminary manufacturing Purchasing Managers' Index (PMI) for August is reported at 49.9, an increase from July's final value of 48.9, but still below the neutral level of 50.0, indicating ongoing contraction in manufacturing activity [1] - Despite a brief rebound in manufacturing output, indicated by an increase in the output index, the continuous decline in new orders casts a shadow over the recovery outlook [1] Group 2 - New orders in August continued to decline, with overseas new orders dropping at the fastest rate in 17 months, highlighting the vulnerability of Japan's export-oriented manufacturing sector [1] - In contrast to the manufacturing sector, Japan's services sector continued to expand in August, although at a slower pace, with the services PMI preliminary value decreasing from 53.6 in July to 52.7 [2] - The composite PMI output index rose from 51.6 in July to 51.9 in August, indicating the fastest expansion in six months, suggesting that domestic service demand is supporting overall economic activity despite manufacturing pressures [2]
日本8月制造业活动连续第二个月萎缩 出口订单创17个月最快下滑
Xin Hua Cai Jing·2025-08-21 05:19