Japan Sept manufacturing hits four-month high on pickup in demand - flash PMI

Monday,   25-Sep-2017   10:30 AM (IST)

Japanese manufacturing activity expanded in September at the fastest pace in four months as domestic and export orders picked up, a preliminary private survey showed on Monday in a sign of strengthening demand. The Markit/Nikkei Japan Manufacturing Purchasing Managers’ Index (PMI) rose to a seasonally adjusted 52.6 in September from a final 52.2 in August. The index remained above the 50 threshold that separates expansion contraction from the 13th consecutive month and reached the highest level since May. The index for new export orders rose to a preliminary 53.1 from 51.3 in the previous month. The flash index for new orders rose to 52.5 from 51.9 in August. The output component of the PMI index also rose from August. The PMI survey follows government data last week showing Japan’s exports in August rose at the fastest in nearly four years due to strengthening demand from overseas, offering further evidence that Japan’s economy will continue to grow.