Japan’s Nomura/JMMA Index 46.9 in August
(RTTNews) - Manufacturing activity in Japan has retreated for a sixth consecutive month in August, the Nomura/JMMA Japan Purchasing Managers Index said on Friday, checking in at a seasonally adjusted 49.6.
That’s down slightly from the reading of 47 in July, and while it held above the six-year low of 46.5 in June - it still was below the boom-or-bust score of 50 that indicates contraction.
The reading coincides with contraction in GDP as the Japanese economy shrank 0.6 percent in the second quarter. Additional decline in the third quarter would put the world’s second largest economy officially in recession.
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