EWJ - Japan PMI Surveys Suggest Economy Near Stagnation Amid Manufacturing Downturn
Business activity growth in Japan was subdued during March, recording the slowest expansion for two-and-a-half years amid a steepening manufacturing downturn. The weakness of the surveys suggests that the economy may struggle to grow in 2019.
The Nikkei Composite PMI Output Index slipped from 50.7 in February to 50.4 in March, indicating only marginal growth. March's reading was the lowest since September 2016.
The latest reading is consistent with the Japanese economy near to a flat annual rate of growth.
First quarter growth may disappoint
The subdued survey data imply that economic growth could disappoint