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- Japan manufacturing PMI lower than expected in May
Japan manufacturing PMI lower than expected in May
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Flash Japan Manufacturing PMI declines in May to 52.5, from 53.8 in April.
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New order growth softens to nine-month low.
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Input prices rise at the fastest pace since January 2014
Commenting on the Japanese Manufacturing PMI survey data, Joe Hayes, Economist at IHS Markit, which compiles the survey, said: "Despite the promising upturn in April data, May's flash release erred on the side of disappointment as the headline figure signalled the weakest expansion in manufacturing growth in nine months. "Employment growth eased, in line with a weaker accumulation of work backlogs due to softer demand pressures. That said, new export sales expanded faster amid the recent dollar strength vs. JPY."
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