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Japan PMI Manufacturing rises for an eighth straight month to 54.9
The August PMI manufacturing increase, to 54.9 from 54.5, reflects the fastest pace of new business growth since January 2018 and quicker new export orders since early 2018.
Japan’s manufacturing sector strengthened further in August, with PMI Manufacturing rising to 54.9 from 54.5, according to Action Forex. The result marks an eighth consecutive month of improvement and the second-highest reading since January 2022.
The survey pointed to accelerating momentum in both demand and external orders. New business expanded at the fastest pace since January 2018, while new export orders picked up to their quickest rate since the start of 2018.
Action Forex also linked the improvement to stronger output and order activity, citing AI demand as a driver behind manufacturing orders and production.