Japan PMI September 2016


Japan: Manufacturing PMI rebounds to eight-month high in September

September 23, 2016

The Nikkei Flash Manufacturing Purchasing Managers’ Index (PMI) rose from August’s revised 49.5 (previously reported: 49.6) to 50.3 in September. The print marked the highest reading in eight months and the index now sits above the 50-threshold that separates expansion from contraction in the manufacturing sector.

September’s result mainly reflected that output increased for the second consecutive month, while new orders decreased at a slower rate. New export orders jumped above the 50-threshold, suggesting that global demand is gradually improving. Moreover, as Amy Brownbill, economist at IHS Markit, points out, “goods producers were more optimistic towards taking on additional staff, with job creation accelerating to a four-month high. Manufacturers also benefitted from lower cost burdens, with input prices declining for the ninth consecutive month.”

Author: Ricard Torné, Lead Economist

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Japan PMI Chart

Japan PMI September 2016

Note: Nikkei Manufacturing Purchasing Managers’ Index. Readings above 50 indicate an expansion in the manufacturing sector while readings below 50 indicate a contraction.
Source: IHS Markit and Nikkei.

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