23 Jun 2014
Japan's flash PMI: Growth for first time in 3 months
FXStreet (Bali) - The flash Japan Manufacturing PMI came at 51.1 (49.9 in May), which marked the first growth in activity for first time in three months.
Amy Brownbill, Economist at Markit, which compiles the survey said: “With new orders and output returning to growth in June only three months after the increase in sales tax, it looks like the Japanese manufacturing sector has taken a positive upward trajectory."
“Alongside growth in output, manufacturers increased their purchases from a previous month of decline. Many attributed this to a rise in incoming new orders creating the image of an improving economy. One worrying piece of evidence, however, was a decline in payroll numbers in June for the first time in eleven months. That said, the fall in payroll numbers was only slight so hopefully is short-lived.”
Amy Brownbill, Economist at Markit, which compiles the survey said: “With new orders and output returning to growth in June only three months after the increase in sales tax, it looks like the Japanese manufacturing sector has taken a positive upward trajectory."
“Alongside growth in output, manufacturers increased their purchases from a previous month of decline. Many attributed this to a rise in incoming new orders creating the image of an improving economy. One worrying piece of evidence, however, was a decline in payroll numbers in June for the first time in eleven months. That said, the fall in payroll numbers was only slight so hopefully is short-lived.”