New figures have been released showing operating conditions for Japanese manufacturers have remained broadly stable, which could interest hedge fund managers looking at Asian investments.
New figures have been released showing operating conditions for Japanese manufacturers have remained broadly stable, which could interest hedge fund managers looking at Asian investments.
The Nomura/JMMA Purchasing Managers’ Index (PMI) has shown that output growth has remained robust, although the number of new orders has been expanding at a slower rate.
It is currently at 52.5 per cent after seasonal adjustment, although average vendor performance has fallen for the fifth month in a row, bringing down the index by 1.3 points.
In contrast, manufacturing output has now risen for eight months, while new order intake has also increased for the seventh time, investors may be interested to discover.
Minoru Nogimori, economist at the Financial and Economic Research Centre, claimed that the PMI remains above the key dividing line.
He stated: “The yen’s appreciation has depressed exports which are the main factor behind the current recovery in the Japanese economy.”
Earlier this week, the HSBC China Manufacturing Purchasing Managers’ Indices revealed that the country has reached a record high in output.
