Japan: Nomura/JMMA Manufacturing PMI hits six-month high in January

FXstreet.com (Córdoba) - The Nomura/JMMA Manufacturing Purchasing Manager Index reached 51.4 points in January 2011 up 3.1 point from December 48.3. This is the first time in six months that the index reaches levels above the 50.0 threshold.

"PMI survey data indicated that Japan's manufacturing sector returned to growth at the start of Q1 after contracting throughout Q4 2010", said Markit Economics today.

"Renewed growth of output and overall new business was signalled, which in turn encouraged firms to hire additional workers and increase their input buying. Meanwhile, input cost inflation hit a nine-month high, but this was insufficient to prevent another fall in output prices, as competition for new business remained strong".

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