Above preliminary reading (Il Sole 24 Ore Radiocor) - London, 02 Sep - In August, Japan's purchasing managers' index (PMI) for the manufacturing sector rose to 49.8 from 49.1 in July, according to final data released by S&P Global and its partner au Jibun Bank.

The preliminary reading was 49.5.

A reading above 50 signals expanding sector activity and a reading below 50 a contraction.

"The latest PMI data painted a mixed picture of Japanese manufacturing sector performance midway through the third quarter. The headline reading came close to stabilisation during August amid a renewed rise in production and a softer fall in new order intakes. Firms also mentioned taking on additional staff while destocking efforts appeared to ease. There were also indications of improved supplier performance as manufacturers mentioned more readily available inputs, particularly electrical components," said Usamah Bhatti at S&P Global Market Intelligence.

'Prices data meanwhile remained stubbornly high in August, providing further evidence of inflation picking up amid reports of a broad-based rise in input prices. That said, firms opted not to fully pass through higher cost burdens to customers in an effort to remain competitive, with the rate of charge inflation the least marked since mid-2021.'.

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(RADIOCOR) 02-09-24 08:10:14 (0065) 5 NNNN