The au Jibun Bank Japan Manufacturing PMI declined to 51 in August of 2022 from a final 52.1 in July, a preliminary reading showed. While marking the 19th month of expansion in the sector, the latest figure was the lowest in the sequence, amid growing economic headwinds. Output contracted for the second straight month, and was at the steepest decline in 11 months; new orders shrank faster; while buying levels fell after rising in July. At the same time, the rate of job creation broadly stagnated, amid a renewed reduction in backlogs. The latest lengthening in delivery times softened, as supply chain disruption eased further. On the price front, both input and output cost inflation slowed, due to sustained supply shortages. Finally, business sentiment weakened to a three-month low.
