0209 GMT - Japan's July purchasing managers' index data signals strong manufacturing growth momentum at the start of 2H, says Annabel Fiddes of S&P Global Market Intelligence. Manufacturing output rose at its sharpest pace since February 2014, while the rate of growth in new orders was the strongest in over four years, Fiddes says. Still, inflationary pressures remain elevated due to the Middle East war, while supply-chain delays are again evident, the data shows. The headline PMI edged lower to 54.5 in July from 54.8 in June but stayed in expansionary territory. Stock building in response to the conflict likely contributed to the sector's performance, as input inventories rose and firms expanded their purchasing activity, Fiddes adds.
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