Japanese Manufacturing Grows at Fastest Pace in Nine Months

Japanese manufacturing activity expanded at the fastest pace in nine months in October as output and new export orders picked up, a private business survey showed on Tuesday, offering some hope for the struggling economy.

The final Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) was 51.4 on a seasonally adjusted basis. That compares with a preliminary reading of 51.7 and a final 50.4 in the previous month.

The index remained above the 50 threshold that separates expansion from contraction for the second month and showed that activity expanded at the fastest since January.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.