The final read for this will come out next week
Key points made by Markit:
- Flash Japan Manufacturing PMI edges lower to 54.0 in February (54.8 in January)
- Output and new orders both grow at slowest pace since October 2017
- Employment growth accelerates to 11-year high
Commenting on the Japanese Manufacturing PMI survey data, Joe Hayes, Economist at IHS Markit, which compiles the survey, said:
- "February Japan flash PMI data is a fairly mixed bag overall.
- On the one hand, output and new business inflows increased to weaker extents, while recent yen appreciation has coincided with slower new export order growth. Furthermore, a number of panellists indicated that the stronger currency had prompted them to lower prices to overseas customers. Indeed, further yen strengthening will create unwanted drag on inflationary pressures.
- That said, employment growth accelerating to an 11- year high signals confidence that expansionary output and demand trends will continue for the time being."