Japanese manufacturing activity expands at fastest pace in nine months

By Reuters news release

Oct 24, 2016

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Japanese manufacturing activity expanded in October at the fastest pace in nine months as new orders rose, a preliminary survey showed on Monday, suggesting domestic demand could lead to higher economic growth.

The Flash Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) rose to a seasonally adjusted 51.7 in October from a final 50.4 in the previous month.

The index remained above the 50 threshold that separates expansion from contraction for the second month and showed that activity expanded at the fastest since January.

The index for new orders rose to a preliminary 51.3 from 49.6 in the previous month, marking the first expansion in nine months.

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