Japan's factory activity declines slow, PMI shows [Reuters]
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Source: Reuters
The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) rose to 49.9 in April from 48.2 in March, remaining below the 50.0 threshold separating growth from contraction for 11 straight months. Still, the index was closest to the break-even level since slipping into contraction in June, the data showed. "While the service sector remained the primary driver of growth, it was encouraging to see the deterioration in manufacturing output further ease in April," said Jingyi Pan, economics associate director at S&P Global Market Intelligence, which compiled the survey. The output and new orders, the two key subindexes contributing to the headline figure, contracted at the slowest pace in six and 10 months, respectively. Both manufacturers' confidence and employment growth improved, the survey showed. Input cost inflation went up, which translated into average output prices rising at the fastest pace in nine months. The data also showed the service sector's expa
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