Japan’s manufacturing PMI

Japan’s manufacturing PMI (purchasing managers’ index) stood at 52.6 in March 2017 compared to 53.3 in February. It is below the preliminary market estimation of 53.5.

From March–August 2016, the manufacturing PMI showed a huge contraction. A level above 50 indicates an expansion in manufacturing activity, while a level below 50 indicates contraction in manufacturing activity.

Japan’s Manufacturing PMI Is Weakening: What It Means for the Economy

The March manufacturing PMI was mainly due to the weaker improvement in production output. New orders and export orders also rose at a weaker pace during the month. Overall domestic demand and overseas (VTI) (VEU) (ACWI) demand showed a weaker improvement in March 2017.

The economy showed a modest recovery and GDP growth in 2016. Japan’s (EWJ) (DXJ) consumer spending is improving gradually and rose to 3.8% in 4Q16. However, in March, business confidence weakened.

Job growth remained strong in March. Input costs continued rising and output costs declined slightly. The improvement in consumer confidence and consumer spending indicated that the economy is moving at a decent rate in March 2017.

In the next part of this series, we’ll analyze the performance of the Eurozone consumer confidence in March 2017.

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