Japan's preliminary manufacturing purchasing managers' index for August rose to 55.1 from 54.5 in July, supported by the fastest expansion in new orders since January 2018. S&P Global released the data today and said the factory sector continued to lead growth in both output and new orders. Annabel Fiddes, associate economics director at S&P Global Market Intelligence, said manufacturers saw total sales and foreign demand jump at the strongest pace in more than eight and a half years, helped by the semiconductor and artificial intelligence industries. The preliminary services PMI rose to 52.3 from 51.2, and the preliminary composite PMI covering manufacturing and services reached 53.4 from 52.7, the highest level since February. Cost pressures eased, with overall input price inflation slowing to a five-month low, but selling prices continued to rise at a record pace. Business confidence climbed to its highest level since February, with manufacturers more upbeat than services firms.
S&P Global IncS&P Global's PMI data shows strong manufacturing expansion, indicating demand for its data services.
