S&P Global Manufacturing PMI for June 2024 Reaches 50.0
- Previous 50.4
- The initial was 50.1.
From comment to report:
- “It is worth noting that the latest PMI data revealed the first rise in Japanese factory output in more than a year, and a recovery in business confidence. Although employment continued to be affected by retirements, June saw another round of net job creation.
- “However, there were some worrying aspects to the latest figures, with companies struggling with rising cost pressures as the price of imported materials worsened due to the weaker yen. Workers were another factor squeezing budgets. There was clear evidence that the sharp rise in overall purchasing prices was not due to supply chain problems, with delivery times actually improving to the fastest in more than 15 years.
- As a result, manufacturers raised their selling prices at the strongest rate in more than a year, an unfavorable outcome given that domestic and foreign demand remain weak.
This article was written by Eamonn Sheridan at www.forexlive.com.
