Japan Nikkei September Manufacturing PMI - preliminary (flash) reading 50.9
- expected is 51.2, prior was 51.7
Amy Brownbill, economist at Markit (bolding is mine, though ... exports looking ugly):
- "September PMI data pointed to a general slowdown in the expansion of the Japanese manufacturing sector.
- New order growth moderated, having increased in August at the fastest rate since January.
- Underpinning the slowdown in total new order growth was a sharp reduction in international demand as new export orders dropped to the greatest extent for 31 months.
- A number of panellists blamed a fall in sales volumes from China leading to a decrease in new exports. Subsequently, employment levels declined for the first time since March."
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The headline is a small disappointment, but new export orders very disappointing indeed
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USD/JPY has ticked a handful of point higher.
