Preliminary Markit / Nikkei Japanese manufacturing PMI
- a 3 month high of 52.8
- Output sub index at 53.1 (51.4 in
July) is its fastest growth for three months
Paul Smith, Director at IHS Markit, which compiles the survey, said:
- “August’s PMI survey provided another positive set of data on the health of Japan’s manufacturing sector, with growth rates of output, new orders and employment all improving.
- Expansion continues to be supported by a mix of strengthened demand from both domestic and external sources: public work projects and stronger sales to South East Asia were both reported by panellists as areas of growth in August.”
An impressive result for the Japanese economy. The ‘final’ will be out next week and it may vary slightly (it sometimes does). Note, the Reuters Tankan (was out Monday) was also quiye positive.