Japan flash October manufacturing PMI shows fastest expansion in nine months
Reuters
Published Oct 23, 2016 08:42PM ET
Japan flash October manufacturing PMI shows fastest expansion in nine months
TOKYO (Reuters) - Japanese manufacturing activity expanded in October at the fastest pace in nine months as new orders rose, a preliminary survey showed on Monday, suggesting domestic demand could lead to higher economic growth.
The Flash Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) rose to a seasonally adjusted 51.7 in October from a final 50.4 in the previous month.
The index remained above the 50 threshold that separates expansion from contraction for the second month and showed that activity expanded at the fastest since January.
The index for new orders rose to a preliminary 51.3 from 49.6 in the previous month, marking the first expansion in nine months.
The flash index for new export orders rose to 53.1 from a final 51.1 in September, indicating the second consecutive month of growth.
Government data on exports and household spending suggest Japan's economic growth was subdued in July-September, so the PMI survey could point to an acceleration in growth in October-December.
Japan's economic growth has been lacklustre for much of this year as consumer spending and exports largely undershot economists' expectations.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.