The manufacturing sector in Japan continued to expand in May, albeit at a slower pace, the latest survey from Markit Economics revealed on Friday with a survey record manufacturing PMI score of 52.5.
That’s down from 53.6 in April, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Both output and new order growth eased in the latest survey period. That said, manufacturers remained confident in taking on additional staff as job creation continued for the second successive month. Moreover, positive sentiment picked up in May, with the level of optimism the joint-strongest since the survey began posing the question in July 2012.
The survey also showed that the services PMI eased to 45.7 from 48.3 in April and the composite fell to 48.1 from 51.0.