Nikkei / Markit Manufacturing PMI for Japan, February final in at 53.5
- preliminary 53.5
- prior 52.7
Key points:
- Manufacturing PMI hits 35-month high of 53.3 in February
- New business, production and job growth all strengthen
- Backlogs of work accumulate for first time since December 2015
Commenting on the Japanese Manufacturing PMI survey data, Samuel Agass, economist at IHS Markit, which compiles the survey, said:
- "The health of Japan"s manufacturing sector improved at a pace not seen in nearly three years during February, with all five PMI sub-components improving since January.
- Growth was underpinned by a broad-based uptick in new orders, subsequently leading to the first accumulation in outstanding business for 14 months.
- Moreover, amid stronger demand conditions, firms raised their production and employment at the quickest rates for 35 and 34 months respectively
- With Japanese goods producers showing intent to support this current upturn, the sector looks likely to continue to grow at a robust pace over the next few months.
- This was also reflected in the index measuring business confidence, which reached its second-highest level during its four-and-a-half-year series history in February.
Japan - Nikkei Manufacturing PMI (February, final): 53.3 (preliminary 53.5, prior 52.7)
Japan - Nikkei Manufacturing PMI (February, final): 53.3 (preliminary 53.5, prior 52.7)
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