Japan Flash Nikkei Manufacturing PMI for November, 52.8, for its highest in 20 months
- prior was 52.4
Amy Brownbill, economist at Markit:
- "Latest survey data pointed to a substantial improvement in operating conditions at Japanese manufacturers.
- Growth in production accelerated to the sharpest since March 2014, while new orders increased at a marked rate.
- Meanwhile, international demand rose sharply as growth in new export orders picked up to a five-month high.
- Subsequently, both buying activity and employment rose during the month, with both expanding at the fastest rates in over one-and-a-half years.
- Input prices rose at the fastest rate in four months, although inflation remained historically muted"
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Also from Japan today, from the Ministry of Health, Labour and Welfare (via MNI):
- Japan Sep total average wages revised down to +0.4% y/y from +0.6%, 3rd straight rise
- Japan Sep real average wages revised +0.3% y/y vs. +0.5%, 3rd straight rise
- Japan Sep average base wages revised +0.1% y/y vs. +0.4%, 7th straight rise
- Japan Sep overtime pay revised +1.3% y/y vs. +1.4%, 3rd straight rise
- Japan Sep bonuses, special pay revised +12.6% y/y vs. +14.0%, 3rd straight rise
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An encouraging set of data from Japan today, and the yen is gaining a little
