Japan Manufacturing Growth Strongest Since March 2014

Marco Green
November 24, 2017

The Industrial Activity Index (PMI), compiled by IHS Markit, rose to 57.5 in November after 56 in October, with all over 50 considered to be successful.

"Businesses are inundated with new orders, including sharp growth in manufacturing export sales, which is powering a strong and sustained spell of employment growth".

"The PMI is so far running at a level signaling a 0.8% increase in GDP in the final quarter of 2017, which would round-off the best year for a decade".

France, the eurozone's second-largest economy, was one standout. "New export orders expanded at the fastest pace in nearly four years", said Joe Hayes, economist at HIS Markit, which compiles the survey.

Even before the survey, the eurozone was already set to post its highest growth rate in ten years. It was an 81 month high. "This is a very broad-based looking upturn".

The services PMI rose to a six-month high of, compared to expectations for 55.1, from 55.0 a month earlier.

However, IHS Markit said the faster pace of growth and jobs creation is helping to boost underlying inflation, with firms' selling prices for goods and services rising by more than at any time since June 2011.

Other reports by Click Lancashire

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