Investing.com — Japan’s manufacturing sector showed continued strength in July, with a production subindex increasing at the fastest rate in over 12 years, according to a business survey released Friday.
The S&P Global flash Japan Manufacturing Purchasing Managers’ Index registered 54.7 in July, down slightly from 54.8 in June. A reading above 50.0 signals expansion in activity.
A key subindex for factory output rose at its quickest pace since February 2014, the survey showed, even as uncertainty related to the Middle East situation continued to affect business sentiment.
The services sector showed slower growth, with the flash services PMI falling to 51.9 from 52.2 in the previous month.
Export orders for goods expanded at the fastest rate in four months as overseas demand improved. Foreign demand for services declined during the period.
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