Japan Manufacturing PMI jumped to 2-month high, export orders rise

Omkar Godbole FXStreet Contributor

Nikkei flash manufacturing PMI index released today showed the activity in Japan expanded at a fastest rate in 2 months largely due to a jump in the new export orders.

The flash PMI rose to 52.8 in April from 52.4 in March. New export orders rose at a faster rate, details of the report revealed. This should not come as a surprise, given the sequential rise in the Japanese exports seen over the last four months.

The good news is the output prices and input prices rose at a faster rate in April. Paul Smith, Senior Economist at HIS Markit, which compiles the survey, said, “Companies are adding to their workforces at a rate that matched January’s 34-month peak, but price pressures continue to mount with input costs and output charges rising at stronger rates.”

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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