Japan Markit/JMMA Manufacturing PMI for August, 52.2
- prior (July) was 50.5,
- flash was 52.4
Comments from Markit report:
- PMI points to strongest improvement in manufacturing conditions since March
- New business and output growth rises at sharp pace (rising at the fastest pace since before the sales tax increase was implemented in April)
- New export orders rose in August
- Purchasing activity rose on the back of new order growth, while stocks of inputs declined for the second month in a row
- Staffing levels expanded fractionally, while backlogs of work increased, albeit marginally
- On the price front, input costs rose at a marked pace, while output charges fell slightly
Amy Brownbill, Economist at Markit:
- “Japan’s manufacturing output and new orders growth rose at the fastest pace since before the sales tax increase was implemented in April.
- The latest data, therefore, shows some confidence that the negative effects of the higher sales tax seem to be disappearing, with a return of client confidence and a wider improvement in the Japanese economy
- It will be interesting to see whether this return to growth will be sustained, keeping in mind that another sales tax hike may be implemented in October 2015.”
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Coming up at 0145GMT: China HSBC/Markit Manufacturing PMI for August
