Japan - Nikkei (preliminary) Manufacturing PMI (April): 52.8 (prior 52.4)
The final will be out in a week or so, until then, flash indications
- Flash Japan Manufacturing PMI™ up to 2-month high of 52.8 in April (52.4 in March)
- Flash Manufacturing Output Index at 53.6 (53.0 in March). Marked increase in production signalled
- Stronger growth in new export orders recorded.
Commenting on the Japanese Manufacturing PMI survey data, Paul Smith, Senior Economist at IHS Markit, which compiles the survey, said:
- "April's PMI data signalled continued healthy growth of Japan's manufacturing sector, and the latest results were again consistent with production rising at a quarterly rate of around 2%.
- Driven by firmer external demand, the sector was underpinned by a stronger export performance in April, with new export orders rising at a rate amongst the best seen in the past three years.
- Companies are also adding to their workforces at a rate that matched January's 34- month peak, but price pressures continue to mount with input costs and output charges rising at stronger rates."
The PMI does not tend to move the forex all that much, but it's a useful piece of background info on the eocnomy