Japan Nov flash manufacturing PMI eases slightly, output up
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[TOKYO] Growth in Japanese manufacturing activity slowed slightly in November but output grew at the fastest pace since March, a survey showed on Thursday, suggesting the economy is recovering from a surprise recession.
The Markit/JMMA flash Japan Manufacturing Purchasing Managers Index (PMI) fell to a seasonally adjusted 52.1 in November from a final 52.4 in October.
The index remained above the 50 threshold that separates contraction from expansion for the sixth consecutive month.
The output component of the PMI index rose to a preliminary 53.5 from 51.3 in October to reach an eight-month high.
New orders and new export orders both rose but at a slower rate. The index for new export orders fell to a preliminary 51.8 from 53.3 in the previous month.
Data on Monday showed the economy slipped into an unexpected recession in the third quarter as a sales tax increase in April weighed on consumer spending and business investment.
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The recession shocked policymakers, setting the stage for Prime Minister Shinzo Abe on Tuesday to postpone a second sales tax hike and call a snap election.
The final Markit/JMMA PMI for November will be released on Dec 1.
REUTERS
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