Nikkei / Markit Manufacturing PMI for Japan in Sep.
Comes in a shade under the preliminary result at 52.5
- prelim was 52.5
- prior was 52.2
From the report … Key points:
- Output growth sustained amid solid demand pressures
- Input delivery times continue to lengthen sharply
- Business confidence drops further
Commenting on the Japanese Manufacturing PMI survey data, Joe Hayes, Economist at IHS Markit, which compiles the survey, said:
- "Growth in the Japanese manufacturing sector was sustained in September, rounding off a fairly robust quarter of expansion. That said, the average PMI reading for Q3 was notably weaker than those for the first and second quarters of 2018, suggesting weaker momentum.
- "Slowing input delivery times reportedly weighed on output capabilities in September, creating backlogs and pushing up shipping costs. Although job creation accelerated, output growth eased, suggesting that supply chain pressures are impacting production line efficiency.
- "Although firms remained optimistic overall that output levels would be higher in a year's time, the degree of confidence dipped to a 22-month low, with some panellists raising concern towards the demand outlook."
This data point is not a forex mover. A useful pic of the economy though FWIW.
