According to Markit/Nikkei, Japan’s manufacturing activity expanded at a fastest pace in four month.
Japan’s Manufacturing Purchasing Managers’ Index (PMI) grew to 52.9 from 52.2 in August. The flash score was 52.6.
New orders rose to a 4-month high in September. Analysts believe that the rise in new orders may be caused by the demand for new products, fueled by high foreign demand. New export orders grew at the fastest pace in seven months.
The growth of output and new orders sparked an increase in purchasing activity among Japanese manufacturers. In September, it was the highest since May.
In August, consumer prices rose by 0.7% in Japan, while analysts had forecast an increase of 0.6%. Japan’s industrial production increased by 2.1% in the previous month versus a decrease of 0.8% in July.
