Japan manufacturing PMI up to 52.7 in April
TOKYO -- The Nikkei Japan Manufacturing Purchasing Managers' Index, or PMI, inched up to 52.7 in April from 52.4 in March.
A reading above 50 signals an improvement, while one below 50 points to a contraction in activity. The latest PMI recorded the above-50 level for the eighth consecutive month.
"Growth of the Japanese manufacturing sector is being sustained at a healthy clip at the start of the second quarter, with the data remaining consistent with underlying rises in official production of around the 2% mark," said Paul Smith, senior economist at IHS Markit, which compiles the survey.
He added: "Supported by strengthening overall demand across the Southeast Asia region, exports are a key driver of growth, particularly for capital goods, with the PMI data again revealing the investment goods sector as the engine of overall expansion in April."
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