Nikkei Markit Preliminary Manufacturing PMI for Japan in June 2018
Key points highlights from Markit:
- Output growth accelerates, despite slower rise in new business
- Inflationary pressures intensify
Joe Hayes, Economist at IHS Markit - with some cautionary notes (bolding mine):
- "The final PMI reading of the second quarter revealed a quickened pace of growth across the Japanese manufacturing economy. The sector has sustained a relatively solid upward trend across 2018. June data indicated continued growth in new orders, a faster rate of job creation, rising backlogs of work and increasing output prices. As such, there appears to be further legs in the manufacturing growth cycle.
- That said, for the first time since August 2016, new export orders declined. With geopolitical risk aplenty, haven demand for the yen remains a downside risk to the country's manufacturing exporters."
