JAPAN – “Flash” Markit/JMMA Manufacturing PMI for August, 52.4 – a 5-month high
- expected is 51.5
- prior was 50.5
Amy Brownbill, Economist at Markit:
- “Latest data registered a modest improvement in business conditions for Japanese manufacturers.
- Output and new orders rose sharply, with both recording the fastest increases since before the implementation of the higher sales tax.
- Payroll numbers returned to steady growth and the highest in the past three months.
- It would seem that the Japanese economy is recovering from the rise in the sales tax and showing more resilience than 17 years ago when a similar tax hike was implemented.”
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