Japan's factory activity expanded at a slower pace in June as the headline S&P Global Japan Manufacturing PMI fell to 50.1 from 50.4 in May, S&P Global's preliminary report showed Tuesday.
The index stayed just above the neutral 50 threshold, signaling broadly stable operating conditions after nearly a year of decline.
"Demand conditions remained challenging for Japanese manufacturers in June, with firms recording further drops in sales both at home and overseas," said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence. "However, companies were more hopeful when looking ahead, which encouraged them to increase their staff numbers and raise production levels."
