Nikkei Markit Manufacturing PMI for September (final) result comes in at 51

  • flash (i.e. the preliminary reading) was 50.9
  • prior (for August) was 51.7

The 'key points' from Markit:

  • Headline PMI signals a slower expansion in the manufacturing sector
  • Exports decline for first time in 15 months
  • Purchasing activity decreases at quickest rate since April last year

Amy Brownbill, economist at Markit:

  • "Growth in production at Japanese manufacturers eased further in September to the weakest rate in the current five-month sequence of expansion.
  • Meanwhile, new exports orders fell at the fastest rate in over two-and-a-half years, with a number of panellists suggesting lower trade volumes with China was the main contributing factor behind the fall in exports.
  • Consequently, both employment and buying activity decreased.
  • In contrast, new orders increased at a rate broadly unchanged from August's seven-month record.
  • A number of firms mentioned new product launches and advertising campaigns as factors helping to boost demand."

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Wow ... look at the yen go nuts! (if you are seeing this you need new glasses :-D )