Markit/ Nikkei Manufacturing PMI for October
- Flash 52.5, prior 51.0
"Key points" from Markit:
- Growth in production accelerates to the fastest since February
- New orders increase at sharpest rate in a year
- Employment and buying activity increase, following declines seen in September
Comments from Amy Brownbill, economist at Markit
- "Operating conditions at Japanese manufacturers improved substantially at the start of the final quarter of 2015.
- Growth in production accelerated to the fastest since February, underpinned by a sharp rise in total new orders.
- Supporting the marked increase in new work intakes was a rise in international demand as new export order growth resumed, having contracted slightly in the prior month.
- Subsequently both employment and buying activity increased, following declines seen in September.
- Meanwhile, cost pressures were evident as purchasing prices rose, albeit at a weak rate. In contrast, charges fell for the second straight month with manufacturers reporting pressure from their clients to push down their selling prices."
Although the final print was a shade lower than the flash, a positive for Japan manufacturing
Impact on the yen has minimal