Japanese manufacturing activity expanded in April for the first time in three mo...
TOKYO - Japanese manufacturing activity expanded in April for the first time in three months as companies hired more workers and grew more optimistic about the business outlook, a preliminary survey showed on Tuesday.
The Markit/Nikkei Japan Flash Manufacturing Purchasing Managers Index rose to a seasonally adjusted 50.2 in April from a final 49.2 in the previous month. “Given the difficulties faced by firms in semi-conductor and automobile-related industries in recent months, it bodes well that anecdotal evidence indicated that stronger optimism was in part driven by more upbeat forecasts for these two key Asian industries.”
Data last week showed Japan’s industrial output fell in January-March at the fastest pace in almost five years, suggesting the economy may post a mild contraction in the first quarter as manufacturers struggle with the U.S.-Sino trade war and a slowing Chinese economy.
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