Latest data signalled that operating conditions in Japan‟s manuf acturing sector improved only slightly in July. Output contracted at a fractional pace, while new orders grew for the second month running but only modestly. Subdued client demand due to the rise in the sales tax was linked by panellists to relatively weak market conditions. In contrast, new export orders rose for the first time in four months in July, with a number of companies citing new overseas project wins. Payroll numbers remained in growth territory for the twelfth month running, although the rate of expansion was marginal. The headline ... (full story)