Japanese Manufacturing PMI Picks Up in April, Out of Contraction - Forex News by FX Leaders

Japanese Manufacturing PMI Picks Up in April, Out of Contraction

Posted Tuesday, May 7, 2019 by
Arslan Butt • 1 min read

Things are looking up for the Japanese economy – the manufacturing sector grew for the first time in April since three months. According to a preliminary survey by Markit, Japanese PMI rose to 50.2 in April from 49.2 in March, showing that it’s out of contraction.

This is the first time since January that the manufacturing PMI has gone above 50 and marked an expansion. The employment index has also shown a rise, which means that the pace at which companies have been creating jobs has also picked up since November 2018.

New export orders, however, fell from 48.1 in March to 47.8. Last week, data releases showed that Japanese industrial output contracted in Q1 2019 at the fastest pace in nearly five years. It is possible that the Japanese economy overall could contract slightly in Q1 2019, as a result.

USD/JPY is trading mostly unchanged at around 110.63, at the time of writing.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of