Japan's factory activity expands for first time in a year, PMI shows [Yahoo! Finance]
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Source: Yahoo! Finance
The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) climbed to 50.5 in May from 49.6 in April, breaching the 50.0 threshold separating growth from contraction last seen in May last year. "The expansion in business activity remained services-led, but the near-stabilisation of manufacturing output offers hope of growth broadening out later in the year," said Jingyi Pan, economics associate director at S&P Global Market Intelligence, which compiled the survey. Both output and new orders, the two key subindexes contributing to the headline figure, contracted at a slower pace, while stocks of purchases rose at the fastest pace in 10 months. Manufacturers' optimism, though, dipped and inflationary pressures pushed up input costs and output prices. Japan's business-to-business wholesale inflation held steady at 0.9% in April as the yen's declines pushed up import costs, government data showed last week, with analysts expecting it to accelerate in coming mont
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