(Finance) – Manufacturing activity is on the rise Japan, which even surpasses the consensus. The preliminary data of thePMI manufacturing index Of May 2023, published by S&P Global and elaborated by Jibun Bank, indicates a value of 50.8 points, compared to 49.5 in April, and is higher than the 49.5 expected by the market. The indicator therefore moves above the critical threshold of 50 points, which acts as a watershed between contraction and growth.
The flash estimate of the Services PMI indicates an improvement in the tertiary sector, with its index rising to 56.3 points from 55.4 in April. The consensus was for 55.2 points.
“Japan’s private sector has continued on an upward trajectory, as signaled by further expansion in May,” he commented. Usamah Bhatti, economist at S&P Global Market Intelligence – Growth rate accelerated from April to strongest since October 2013 and second-strongest in survey history (since September 2007).”
“THE service providers they continued to report a strong momentum of growth with a new record increase of the commercial activity – it has added – while the producers have indicated an improvement of the operating conditions for the first time in seven months, with the production and the new orders that return in territory of expansion for the first time from the last June”.