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Japan Manufacturing Rises in April while Exports Fall

Thursday, April 26, 2018
Japanese manufacturing was up in April as output and domestic demand picked up, according to the Nikkei Japan Manufacturing Purchasing Managers Index (PMI). In fact, the index, now at 53.3, remained above the 50 threshold that separates expansion from contraction for the 20th consecutive month and rose for the first time in three months.

However, an IHS Markit survey also shows that export orders fell for the first time in more than a year-and-a-half as a rising yen starts to impact the nation’s export competitiveness. “Although new export orders declined for the first time since August 2016, as the stronger yen begins to impact price competitiveness, the rise in total new business inflows signals stronger domestic demand,” says Joe Hayes, economist at IHS Markit.

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