TOKYO -- The majority of monitored sectors across Asia registered growth during the month of April, with industries like software and services as well as pharmaceutical and biotechnology recording sharp rise in growth, while machinery and equipment was the worst-performer.
The Nikkei Asia Sector Purchasing Managers' Index, or PMI, showed that out of the 19 monitored sectors, 4 registered contraction in April. Machinery and equipment had the biggest contraction at 46.2, registering below the 50 mark. It was the strongest decline in production for six and a half years.
Readings above 50 signal expansion, while those below 50 indicate contraction.
Meanwhile, software and services sector registered a sharp and accelerated rise in output that was the strongest in over nine years. Pharmaceuticals and biotechnology followed with an expansion of 55.1.
In other industries, automobiles and auto parts production recorded renewed increase, ending a six-month downturn. Metals and mining, which has recorded falling output since last October, returned to growth in April.
For more information, visit IHS Markit website.