Last week we had the manufacturing PMI from Japan:Japan July Manufacturing PMI (final): 49.1 (prior 50.0)Now the services and composite PMIs:Services 53.7prior 49.4 Composite 52.5 prior 49.7The preliminary for all three is here:Japan flash PMIs (July): Manufacturing 49.2 (prior 50.0) Services 53.9 (prior 49.4)-The latest Jibun Bank Japan Services PMI indicates a robust return to growth in Japan's service sector for July, with the Business Activity Index rising to 53.7, a significant recovery from June's dip at 49.4. This surge is driven by stronger domestic demand, although foreign demand has seen a marked decline, the sharpest since June 2022.Key highlights include a solid increase in new
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