Japan PMI manufacturing rose to 53.3 in April, up from 53.1 but missed expectation of 53.4.
Comments in the release by Joe Hayes, Economist at IHS Markit:
“Survey data depicted a positive backdrop in the Japanese manufacturing sector during April. The improvement in the headline PMI was underpinned by stronger rates of growth in output, new orders and employment. Furthermore, business confidence strengthened, while output prices were hiked to a stronger degree, signalling optimism in demand conditions.
“Although new export orders declined for the first time since August 2016, as the stronger yen begins to impact price competitiveness, the rise in total new business inflows signals stronger domestic demand.”
