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Manufacturing PMI demonstrates a booming industry

02 September 2017

The Markit/Nikkei Japan Final Manufacturing Purchasing Managers Index (PMI) inched up to 52.2 in August on a seasonally adjusted basis, less than a flash reading of 52.8 but just above a final 52.1 in July.

That's up from 51.1, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

The strongest euro exchange rate in two and a half years did little to dent demand for French-made goods as the flow of new orders and backlogs of work grew, the survey showed.

Market forces continued to be supportive of the sector this month, as purchasing activity was strong, more jobs created and new orders rose across all three sectors, for companies large and small.

The data assumes significance as it comes a day after the government data showed the country's economic growth slipping to a three-year low of 5.7 percent in April-June, primarily due to headwinds from the manufacturing sector.

Purchase price inflation accelerated for the first time in seven months in August.

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The manufacturing sector in India bounced back in the month of August. Conversely, output charge inflation eased during August.

"In addition, manufacturers' optimism regarding future production growth only edged up in August to its five-year average, suggesting that they will invest only cautiously in extra capacity".

Prime Minister Narendra Modi scrapped high value currency notes previous year in a bid to fight corruption and wipe out black money.

India's services sector also gathered steam in the latest quarter and capital investments also bounced back from contraction in the March quarter.

"With the eurozone PMI hovering at a seventy four month high and sterling hitting eight-year lows last month, the buoyant demand picture seen across manufacturing supply chains is not surprising".

A news release said overall manufacturing performance reflected decreased output levels and a fractional fall in new orders.

Manufacturing PMI demonstrates a booming industry