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Japan March Manufacturing Activity Contracts as Export Orders Tumble – Flash PMI

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Japan’s manufacturing activity contracted in March for the first time in almost a year as new export orders shrank sharply, a preliminary business survey showed on Tuesday, in a worrying sign that the global economy is weakening.

The Markit/Nikkei Flash Japan Manufacturing Purchasing Managers Index (PMI) fell to 49.1 in March on a seasonally adjusted basis from a final 50.1 in February.

It fell below the 50 threshold that separates contraction from expansion for the first time since April last year.

The sub-index for new export orders fell to a preliminary 45.9 from 49.0 in February, which would indicate the sharpest contraction since January 2013 if confirmed by the final report.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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