🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Japan April flash manufacturing PMI contracts for first time in 11 months

Published 23/04/2015, 04:39
© Reuters. Workers stand next to steel pipes at a construction site in Tokyo

TOKYO (Reuters) - Japanese manufacturing activity contracted in April for the first time in almost a year as domestic orders and output fell, which could fuel concerns that the country's modest economic recovery is losing momentum.

The Markit/JMMA flash Japan Manufacturing Purchasing Managers Index (PMI) fell to a seasonally adjusted 49.7 in April from a final 50.3 in March.

The index fell below the 50 threshold that separates contraction from expansion for the first time since May last year.

New orders fell to a preliminary 48.5 from 49.4 in March, contacting for a second straight month and at a faster clip.

The output index fell to 49.7 in April, its first contraction in nine months.

The index for new export orders also fell to a preliminary 51.0 from a final 52.0 in the previous month, but continued to expand as the weak yen helped improve Japanese exporters' price competitiveness.

The final Markit/JMMA PMI for April will be released on May 1.

The declines in manufacturing activity according to the PMI index are still relatively small, but government data on industrial output has already cast some doubt on the strength of the corporate sector.

© Reuters. Workers stand next to steel pipes at a construction site in Tokyo

Industrial output fell more than expected in February, and economists will pore over output data for March due next week to see if output recovers. Forecasts for the March data are not available yet.

Latest comments

Risk Disclosure: 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.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.