Japan Nikkei/Markit Manufacturing PMI (final, December): 54.0 (vs. flash 54.2)
Japanese manufacturing PMI for December of 2017 via Nikkei / Markit
Comes in at 54.0, its highest since February of 2014
- Preliminary December was 54.2
- prior (I.e. for November) 53.6
Markit's 'Key points':
- Output growth gathers further momentum
- New orders increase at sharper rate
- Business confidence weakens
Comment from Joe Hayes, Economist at IHS Markit:
- "The Japanese manufacturing sector concluded Q4 with the highest PMI reading since February 2014.
- Output growth accelerated for a fifth month in succession, while new business opportunities, both domestic and foreign, rose sharply.
- Firms took advantage of the robust demand backdrop and raised selling prices for a twelfth month in a row, extending the current run of inflation to the longest seen since a 15-month stint ending in November 2008. This will provide encouragement that the aggressive monetary easing Bank of Japan policymakers have pursued is being effectively transmitted into the economy.
- That said, although firms retained a positive outlook over the forthcoming 12 months, the degree of optimism eased to a 13-month low amid concerns regarding the ageing population."