Japan PMI February 2017


Japan: Upward trend in manufacturing PMI remains intact in February

February 21, 2017

The Nikkei Flash Manufacturing Purchasing Managers’ Index (PMI) rose from January’s revised 52.7 (previously reported: 52.8) to 53.5 in February. The result, which marked the highest reading since March 2014, sits comfortably above the 50-threshold that separates expansion from contraction in the manufacturing sector.

February’s result reflected that new orders, output and employment expanded at faster rates than in January. Conversely, stocks of purchases decreased at a faster rate. Input prices continued to rise, pushing cost inflationary pressures to the highest point since March 2015. The uptick in prices mostly reflects that increases in energy prices are gradually feeding into the economy. Overall, the economy is benefiting from higher foreign demand for Japanese goods and a weak yen.

Author: Ricard Torné, Lead Economist

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Japan PMI Chart

Japan PMI February 2017

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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