JEQ - Japan Manufacturing PMI confirmed at 6-month high to 49.5 in April

2023-05-01 00:40:20 ET

• The au Jibun Bank Japan Manufacturing PMI held at a six-month high of 49.5 in April 2023, matching a preliminary reading, and after a final 49.2 in March, amid deeper economic recovery.

• It was the sixth straight month of contraction in factory activity but the softest one in sequence, as new orders shrank at the slowest pace since last November, while foreign demand declined the least in six months.

• New orders contracted at the softest pace since July while remaining below the 50.0 threshold for a tenth consecutive month as inbound demand stabilised moderately.

• Meanwhile, output dropped slightly quicker, with companies signaling the softest lengthening in delivery times in the current 39-month sequence.
• At the same time, employment rose for the twenty-fifth month in a row and at the strongest pace since last October, with a backlog of work decreasing.
• On the pricing front, input cost inflation eased at the slowest pace since August 2021, while output cost inflation accelerated to a five-month high.
• Finally, business sentiment was robust overall and little changed from March's 14-month high.
• ETFs: ( JEQ ), ( EWJ ), ( DXJ ), ( FXY ).

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