FXY - Japan factory activity returns to expansion in May
2023-06-01 01:13:42 ET
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The au Jibun Bank Japan Manufacturing PMI was at 50.6 in May 2023, compared with flash data of 50.8 and after a final 49.5 in April.
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This was the first growth in factory activity since last October, supported by a recovery in domestic economic conditions, increase in output and new orders and buoyed by a positive outlook for the year ahead.
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Output grew for the first time since June 2022, with the rate of increase the fastest in a year; and new order growth hit its highest in 13 months.
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Meantime, employment rose the least in 26 months, amid indications that backlogs of work fell for the 8th month in a row.
- Finally, sentiment was at a 16-month peak, on hopes of a further rebound in the economy and an end to customer destocking.
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Japan factory activity returns to expansion in May