Manufacturing in Japan recedes in MarchStaff Writer | March 25, 2017
The Nikkei Flash Manufacturing Purchasing Managers’ Index (PMI) fell from February’s revised 53.3 (previously reported: 53.5) to 52.6 in March.
Japanese economy The Nikkei Flash index
March’s result reflected that new orders and output continued to expand albeit at slower rates. Job prospects steadied in the same month, while stocks of purchases fell into negative territory.
Input prices receded slightly in March but were still close to a two-year high as a result of higher energy prices.
Despite March’s weaker reading, Paul Smith, Senior Economist at IHS Markit highlights that, “the latest PMI data again point to a Japanese manufacturing economy expanding at a decent clip.
“Indeed, the data are consistent with manufacturing output expanding at an underlying trend rate of just below 2.0%.” ■