The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a sign of continued resilience in the Asia-Pacific manufacturing sector, flash PMI data for June showed expansion in both Australia and Japan. According to reports, Australia's PMI rose to 51.5, its highest in 5 months, while Japan's PMI marked its 6th consecutive month of growth, with Bank of Japan sentiment hitting an 8-year high.
The readings come amid a mixed global economic backdrop. US GDP growth accelerated to 2.1% in the first quarter (per market data), but durable goods orders fell 4.5%. Australia's employment change surged by 40,300 jobs in June, beating forecasts and reinforcing the domestic recovery narrative.
Sign in to access this content
Sign InInvestors now await upcoming remarks from BOJ Governor Ueda and other policymakers for clues on the monetary policy path. South Korea's business confidence reading of 79 in June provides an additional gauge of regional industrial health. The next set of PMI releases in July will be the key test of whether this expansionary momentum can be sustained.