Japan Manufacturing Sector Stagnates In June - Jibun

(RTTNews) - The manufacturing sector in Japan was flat in June, the latest survey from Jibun Bank revealed on Monday with a manufacturing PMI score of 50.0.

That's down from 50.4 in May and it's now right on the line that separates expansion from contraction.

Factory output expanded for the first time in over a year during June, albeit marginally. Where growth was signaled, survey participants commented on the clearing of outstanding business and stock building efforts. A few firms also suggested that a pick-up in demand for key products supported the rise.

Overall new orders fell for the 13th successive month in June, but the pace of reduction was only slight. Demand retrenchment was cited as the key determinant of lower sales by those firms that reported a fall, although several businesses also commented on weaknesses in the automotive and semiconductor sectors.