Japan - Nikkei Manufacturing PMI (final, March): 52.4 (prior 53.3)

The final for this indicator, March in at 52.4

• preliminary was 52.6


• prior (February) was 53.3

Key points from Markit: 

• PMI hits year-to-date low, but signals ongoing solid growth 


• Capital goods producers indicate marked rises in output, new orders and exports 


• Yen weakness continues to underpin cost inflation

Commenting on the Japanese Manufacturing PMI survey data, Paul Smith, senior economist at IHS Markit, which compiles the survey, said:

• "Confirming the trend highlighted by the earlier flash data, the March PMI data signalled a slower rate of growth but one that nonetheless rounds off a solid quarter. Indeed, observed relationships with equivalent data suggest a sector growing at a 3m/3m rate of around 2%.


• And growth is likely to have some near-term sustainability: exports are rising at an underlying rate of close to 3%, and overall demand is being driven by a desire amongst manufacturers" clients for capital products.


• This has spilt over positively to the labour market. Latest PMI data pointed to a seventh successive month of jobs growth, with March"s data consistent with year-on-year expansion in official jobs numbers of close to 3%."
  

Bolding mine.

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Earlier from Japan, an encouraging Tankan report: Bank of Japan Tankan report, Q1 2017: Large manufacturers still positive

Japan - Nikkei Manufacturing PMI (final, March): 52.4 (prior 53.3)
Japan - Nikkei Manufacturing PMI (final, March): 52.4 (prior 53.3)
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