More data from Japan. Third month in a row for expansion for this PMI.
April, final 53.6, its highest in three years (best since February 2018)
- Preliminary 53.3, prior 52.7
There is a manufacturing tailwind from strong external demand, particularly from China.
- higher for the employment subindex
- rate of input cost inflation fastest since late 2018
- positive medium-term activity outlook
Usamah Bhatti, economist at IHS Markit:
- “This does not fully recover the output lost to the pandemic in 2020,”
- “Further disruption to the manufacturing sector cannot be ruled out as COVID-19 restrictions are reintroduced as infections rise once again.”
Earlier from Japan: