Japan PMI Manufacturing rose to 53.3 in April up from 52.7, above expectation of 53.1. That’s the strongest reading since April 2018. PMI Services was unchanged at 48.3. PMI Composite ticked up from 49.9 to 50.2, returned to expansion for the first time since January 2020.
Usamah Bhatti, Economist at IHS Markit, said: “While some Japanese private sector businesses noted that a resurgence in COVID-19 cases could dampen prospects in the second quarter of the year, firms remained optimistic that overall business activity would improve in the coming 12 months. That said, there is concern the impact of the pandemic will be prolonged further.”
