Japan - Nikkei (preliminary) Manufacturing PMI (April): 52.8 (prior 52.4)

Author: Eamonn Sheridan | Category: News

The final will be out in a week or so, until then, flash indications

Key points:
  • 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."
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The PMI does not tend to move the forex all that much, but it's a useful piece of background info on the eocnomy
           
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