Japan: Manufacturing PMI rebounds in May
May 21, 2015
The Markit/JMMA Flash Manufacturing Purchasing Managers’ Index (PMI) rose from the revised 49.9 in April (previously reported: 49.7) to 50.9 in May. As a result, the index now sits above the 50-threshold that separates expansion from contraction in the manufacturing sector.
May’s result mostly reflected an improvement in output and new orders. Moreover, employment expanded at a faster rate compared to the previous month. Markit/JMMA analysts stated that, “reflective of an overall improvement in operating conditions at Japanese manufacturers was a return to growth of both production and new orders in May. Moreover, the rates of expansion were faster than their respective long-term averages. Subsequently, employment rose at the quickest rate since December last year, while buying activity increased for the third time this year so far.”