Japan's factory output growth picked up in July due to a stronger expansion of output and new orders, as manufacturers benefited from a continuing recovery of the coronavirus pandemic-hit global economy. The final Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) in July rose to 53.0 on a seasonally adjusted basis from 52.4 in the previous month. That compared with a 52.2 flash reading released last month. "The Japanese manufacturing sector continued to see an improvement in operating conditions at the start of the third quarter," said Usamah Bhatti, economist at IHS Markit, which compiles the survey. ... (full story)