Japan: Manufacturing PMI recedes from October's nine-month high in November
November 24, 2016
The Nikkei Flash Manufacturing Purchasing Managers’ Index (PMI) fell from October’s revised nine-month high of 51.4 (previously reported: 51.7) to 51.1 in November. Nevertheless, the index remains above the 50-threshold that separates expansion from contraction in the manufacturing sector.
November’s result reflected weaker growth in output, new orders and employment. On the upside, the stocks of materials purchased returned to positive territory. Despite experiencing a deceleration, growth in new export orders was robust in November, signaling better global trade dynamics. Higher prices for fuel-related items prompted cost prices to jump above the 50-threshold for the first time since December 2016.