This is the 'flash' reading for February. we'll get the final next week.
Comes in at 53.5
- Compared to January's 52.7
Key points (bolding mine):
- Flash Japan Manufacturing PMI™ at 35-month high of 53.5 in February (52.7 in January)
- Flash Manufacturing Output Index at 54.3 (53.2 in January). Sharpest rate of growth for three years.
- Record-high business confidence at Japanese manufacturers.
Commenting on the Japanese Manufacturing PMI survey data, Samuel Agass, economist at IHS Markit, which compiles the survey, said:
- "Japan's manufacturing engine shifted into a higher gear during February, as faster increases in output, new business and employment were reported. Subsequently, business confidence was at a survey-high, with goods producers buoyed by the strongest upturn in the sector for 35 months. "
- Encouragingly, with backlogs of work accumulating for the first time in 14 months, the added pressures on capacity should ensure growth will be maintained at a solid pace during at least the first half of this year."