The final Markit/Nikkei manufacturing Purchasing Managers’ Index (PMI) for Japan rose to 47.7 in May from 47.6 in April, up from the preliminary reading of 47.6. April’s figure was revised down from 48.2.
A reading above 50 indicates expansion, a reading below 50 indicates contraction of activity.
Output, new orders and new exports orders declined at a faster pace in May
“The aftermaths of the earthquakes in one of Japan’s key manufacturing regions continued to weigh heavily on the manufacturing sector,” economist at Markit, Amy Brownbill, said.
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